Cooling

In this Research Note, we examine the 2025 financial results of Belimo Group, a leading player in the building controls sector. This article is based on their sales development investor presentation of 19th January 2026. We previously covered Belimo in a January 2025 research note. Belimo Holding AG, a listed company on the Swiss Stock […]

This Research Note examines ABB’s Electrification business and their 2025 financial results announced on 29th January 2026.   We explore the division’s overall revenues originating from the buildings and data center end markets, based on their revised ABB Factsheet and their acquisitions and investments strategy in 2025, drawing on their Capital Markets Day presentation in […]

This Research Note examines Trane Technologies commercial HVAC business and the group’s financial highlights following their 2025 financial results announced on 29th January 2026.  We explore Trane’s M&A strategy in 2025 and 2026, augmenting both its hardware and software portfolio for commercial buildings and data centers.  This Research Note updates our previous commentary in September […]

This Research Note examines what’s behind the Vertiv acquisition of Waylay, a Belgian startup offering an IoT orchestration platform. We highlight the transaction details, strategic rationale, Waylay profile, and Vertiv’s product and services portfolio before providing a Memoori view of the technology acquired. Transaction Details and Strategic Rationale In August 2025, Vertiv Holdings, a vendor […]

In this Research Note, we examine Daikin, the Japanese headquartered air conditioning manufacturer and the group’s North American strategy to strengthen its HVAC equipment and controls business for commercial and industrial buildings. Our article is based on their FY 2024 results, published 8th May 2025, investor presentations, press releases, and Memoori analysis.  It updates our […]

This Research Note explores what’s behind the acquisition of Airthings’ business segment by Zehnder Group, a Swiss indoor climate solutions manufacturer, announced on 16th June 2025. We examine the transaction details, Zehnder Group’s strategic rationale, and its ongoing portfolio transformation. Transaction Details Airthings ASA has agreed a non-binding exclusive Letter of Intent (LOI) for the […]

This Research Note examines what’s behind the acquisition of FläktGroup, a German HVAC systems provider, by Samsung Electronics, announced on 14th May 2025. We explore the transaction details and strategic rationale before providing our assessment of the respective businesses of both parties, based on recent press releases and Memoori analysis. Transaction Details In May 2025, […]