Articles

This Research Note examines Limbach Holdings Inc, a NASDAQ-listed company that offers mechanical, electrical, and plumbing services for mission-critical facilities.  We explore their financial highlights, based on their March 2026 results and investor presentation, their key vertical markets and the acquisition of Pioneer Power.  This article updates our previous coverage of the company in November […]

This Research Note examines the Building Automation business of Honeywell Technologies presented at their Investor Day on 11th June 2026.  This article updates our previous commentary on Honeywell’s automation spinoff in October 2025 and their 2025 results in February 2026. Honeywell Technologies Simplified the portfolio into a pure-play automation leader, spinning off Aerospace and Advanced […]

This Research Note examines Carel Industries SpA, an Italian public company manufacturing control products for HVAC and refrigeration applications.  We highlight their latest 2025 financial results, revised strategy and product and service development in 2025. This article updates our previous coverage of the company in July 2023. Carel Group Profile Established in 1973, the Carel […]

This Research Note examines the 3rd June announcement by workplace experience app vendor, CXApp that it has acquired EngineRoom.  We review the transaction details and strategic rationale before commenting on CXApp’s latest financials and giving our view of the acquisition in the current competitive landscape. This article updates our previous coverage of CXApp in May […]

This Research Note examines Azbil, a Japanese public company with a leading position in the domestic building automation market. The financial highlights and medium- to long-term outlook for the Building Automation (BA) business are based on its FY 2025 annual results, year-end 31st March 2026, investor presentation dated 13th May 2026, and Memoori analysis. See […]

This Research Note examines the Nordomatic Group, a Swedish building management systems integrator. We highlight its expansion journey, before drilling down into the UK business, created from 4 acquisitions over the last four years. This article updates our previous coverage of the company in August 2025. Nordomatic Group Profile The Nordomatic Group is one of […]

This Research Note examines the May 2026 acquisition of MaintainX by Autodesk, the $7.2 billion architecture, engineering, and construction (AEC) software giant.  We highlight the transaction details, the strategic rationale of the acquisition and a profile of the CMMS startup before commenting on our view of this deal. Transaction Details Autodesk, Inc. entered into a definitive […]

AI updates weekly. Cyber threats evolve daily. Yet most commercial buildings still run on spreadsheets, siloed teams, and 30-year capital plans. The smart building operating model, as it exists today, is not keeping up, and the consequences are becoming harder to ignore. In Episode 47 of our podcast Sh*t You Wish Your Building Did, Rick […]