Articles

In this Research Note, we examine the Data Center business of Schneider Electric, based on their 2024 Full Year Results, Presentation, and Earnings Call of 20th February 2025. We also highlight previous acquisitions and growth for this key vertical, before assessing the competitor landscape and ranking of the major building infrastructure suppliers in the data […]

In this Research Note, we examine the HVAC and building automation business of Carrier, based on their Q4 Earnings Presentation and Conference Call, 11th February 2025, and 2024 10K Report, covering their financial performance and aftermarket and digital business. Carrier Profile Following its portfolio transformation over the last 2 years, Carrier Global Corporation has repositioned […]

In this Research Note, we examine the Bemsiq AB business, based on their 2024 financials and the Year-End Report of their parent company presented on 11th February 2025 and the development of their buy and build strategy. Bemsiq Profile Bemsiq, with headquarters in Gothenburg, Sweden, consists of a group of 9 companies and 615 employees […]

This Research Note explores what’s behind the recent acquisition of Apleona, a German technical facility management business by Bain Capital, the European private equity firm. Our focus is on the strategic rationale of Bain Capital to acquire this firm, Apleona’s prior acquisitions in facility management, and its strategic investments in digital building services. Bain Capital […]

This Research Note examines the workplace experience business of Ricoh Group, a $15.5 billion Japanese provider of workplace services, print and imaging solutions. We explore their Workplace Experience solutions and services business, their Spaces platform, partnerships, integrations, investments and acquisitions. Ricoh Workplace Experience Business The workplace experience business is part of Ricoh Digital Services organization, […]

In this Research Note, we examine Airthings ASA, a Norwegian public company focused on indoor air quality sensing. This analysis highlights their Q4 and Full Year 2024 financial report, including financials for their operating segments offering consumer devices and air quality solutions to schools, offices and other commercial buildings. Airthings Profile Airthings produces IoT devices […]

This Research Note examines 75F, a Minnesota-based provider of IoT building management systems. We highlight their product portfolio, deployments, regional expansion, external funding, and partnerships with established HVAC and building automation firms. 75F Profile Founded by CEO Deepinder Singh in 2012, 75F delivers AI-driven HVAC automation based on sensors and controls. Unlike traditional building management […]

This Research Note examines the announcement of a new Honeywell Automation public company which will be formed from the spinoff of Building Automation (BA) and Industrial Automation (IA) businesses, reported in their Q4-2024 earnings call, on 6th February 2025. We also review the FY 2024 results and outlook for the Building Automation segment, highlighting its […]