M&M Refrigeration LLC has acquired Carnot Refrigeration, a Trois-Rivières, Québec-based provider of carbon dioxide (CO2) transcritical systems, for an undisclosed amount.
Founded in 2008 by CEO Marc-André Lesmerises, Carnot provides its systems for North American commercial and industrial applications, such as data centres, food processing facilities, cold-storage warehouses, supermarkets and ice rinks.
M&M, a Federalsburg, Maryland-based maker of industrial refrigeration systems, said the deal creates a global “leader in CO2-based refrigeration.”
M&M was acquired last year by U.S. mid-market private equity firm Source Capital.
M&M Refrigeration and Carnot Refrigeration enter into partnership to create the global leader industrial-scale natural refrigeration solutions
FEDERALSBURG, Md., July 22, 2019 /PRNewswire/ — M&M Refrigeration, LLC (M&M), is pleased to announce its investment in Carnot Refrigeration (Carnot). The terms of the acquisition were not disclosed.
Based in Trois-Rivières, Québec, Canada, Carnot pioneered the use of CO2 transcritical refrigeration in North America for commercial and industrial applications including data centers, food processing facilities, cold-storage warehouses, supermarkets, ice rinks, and several other industrial applications.
“This partnership firmly establishes our position as the leader in CO2-based refrigeration by combining M&M’s industry-leading cascade solutions with Carnot’s innovative transcritical solutions,” states Chad Riedel, President of M&M Refrigeration. “We will continue to serve our customers by providing refrigeration systems that reduce their operating costs and environmental footprint. In addition, we will be able to expand our collective service and controls offerings.”
“We are thrilled to partner with M&M, and together pursue a future where eco-friendly refrigeration is the global standard. M&M’s complementary market coverage and resources enhance our ability to service the growing demand for green refrigeration and heat pumps,” says Marc-André Lesmerises, CEO and Founder of Carnot Refrigeration.
About M&M Refrigeration
Founded in 1969, M&M is well-known throughout the industry for its design and fabrication of industrial refrigeration systems across many applications, including cold storage, food processing, ice rinks, and ground freezing. M&M has developed a global installed base of industrial refrigeration systems and is acknowledged for being the first company in the U.S. to implement CO2-cascade refrigeration systems. M&M has offices in Maryland, Florida and Alabama.
About Carnot Refrigeration
Carnot was founded in 2008 as an OEM with a focus on sustainable and environmentally friendly refrigerants. Over its 11-year history, Carnot has helped to pioneer the use of CO2 transcritical systems in commercial and industrial applications.