Corporate/Finance: Page 2
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Trane’s backlog up 2.5x from historical levels in Q3, with 90% from commercial HVAC
The company’s commercial HVAC revenue grew nearly 20% year over year in the third quarter, led by strength in applied solutions and services.
By Joe Burns • Oct. 31, 2024 -
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Honeywell building automation offsets industrial automation decline in Q3
Honeywell’s backlog jumped 10% year over year, to $34 billion in the third quarter, led by its building automation segment and energy and sustainability solutions business, CFO Greg Lewis said.
By Joe Burns • Oct. 25, 2024 -
CBRE facilities management, leasing revenue surge in Q3
Despite organizations’ increasing focus on prime space, subprime office leasing activity also grew with return-to-office efforts, CEO Bob Sulentic said.
By Joe Burns • Oct. 24, 2024 -
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Schneider Electric to buy 75% stake in data center cooling firm Motivair
The investment in the maker of direct-to-chip cooling and high-capacity thermal solutions is part of an effort to strengthen its position in data centers, Schneider Electric says.
By Nish Amarnath • Oct. 21, 2024 -
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IBM acquires Prescinto to bolster renewable energy asset management capabilities
The deal will enhance the functionality of its asset lifecycle management platform, helping operators monitor and optimize renewable energy assets in near real-time, IBM says.
By Lamar Johnson • Oct. 18, 2024 -
ISS North America appoints former CBRE exec as COO
Tim Dismond will help lead the company’s attempts to capitalize on the transformation occurring in the current workplace and facilities market, ISS North America CEO Steve Quick said.
By Joe Burns • Oct. 18, 2024 -
Justin Sullivan via Getty Images
WeWork adds locations via workspace affiliate program launch
A new partnership with Vast Coworking Group supports the new network, which comes as many organizations look to increase flexible and coworking space.
By Joe Burns • Oct. 16, 2024 -
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CBRE acquires NRG Energy’s renewable advisory group
The deal will bolster its ability to help clients integrate renewable energy across their real estate portfolios and facilitate clean power deals, CBRE says.
By Joe Burns • Oct. 14, 2024 -
Retrieved from Carrier on October 08, 2024
Carrier rebrands EcoEnergy Insights, Cortix building management system as Abound
The move brings the company’s artificial intelligence and IoT-powered technologies together as a comprehensive suite of climate and energy management products, it said.
By Joe Burns • Oct. 8, 2024 -
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JLL to acquire lease management, data analytics tech brokerage Raise
The acquisition will help JLL build out its digital leasing platform to provide data-driven decision-making to clients, the real estate services firm says.
By Joe Burns • Oct. 2, 2024 -
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Commercial real estate recovery expected in 2025, prompting tech, sustainability investments
A majority of major real estate owner and investor organizations are more likely to channel their spending toward data and technology in 2025, but they must be deliberate about deployment, per a Deloitte report.
By Joe Burns • Sept. 30, 2024 -
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Sodexo mulls acquisition of food service competitor Aramark
The potential deal, which has reportedly been brewing for months, could provide Sodexo with a strong growth engine but would require significant funding and could face antitrust scrutiny, Bloomberg reported.
By Joe Burns • Sept. 27, 2024 -
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Fed rate cut will trigger slow rise in real estate investment ‘tide,’ CBRE chief economist says
Looking ahead, CBRE expects the economy will avert a recession and that its “soft landing” will boost tenants’ confidence and support demand for space across property types.
By Maura Webber Sadovi • Sept. 27, 2024 -
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BlackRock, Microsoft, partners aim to mobilize $100B for AI data centers, energy infrastructure
The funding necessary to build out the data centers, AI factories and energy needed to power them “goes beyond what any single company or government can finance,” Microsoft President Brad Smith said.
By Lamar Johnson • Sept. 20, 2024 -
"Jones Lang LaSalle (JLL) in Pittsburgh, Pennsylvania" by Tony Webster is licensed under CC BY-SA 2.0
JLL’s Scope 1, 2 emissions jump 16% across the Americas in 2023
The company has reduced these emissions by over 20% since its 2018 baseline and is still on track to meet its net-zero targets by 2030, according to its 2023 ESG performance report.
By Nish Amarnath • Sept. 19, 2024 -
CBRE’s Scope 1 and 2 carbon emissions drop 24% since 2019
Its scope 1 emissions rose almost 16% since 2022 due to increased mileage across its vehicle fleet, which it looks to fully electrify by 2035, according to CBRE’s 2023 corporate responsibility report.
By Joe Burns • Sept. 12, 2024 -
Courtesy of Johnson Controls.
Johnson Controls continues manufacturing offload, agrees to sell its commercial PVC business
The deal represents further portfolio trimming for the building automation firm, following two recent divestitures of light commercial and residential HVAC and air distribution assets.
By Joe Burns • Aug. 16, 2024 -
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PDM Group joins Orion Group network to broaden reach, boost HVAC service capabilities
The New Jersey-based HVAC service provider will work with G.E. Mechanical, part of one of Orion’s core businesses, Astra Service Partners, in a move expected to expand the service areas of both companies.
By Nish Amarnath • Aug. 9, 2024 -
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JLL’s Work Dynamics revenue surges 17% year over year, leads Q2 boost
Workplace management revenue reached just over $3 billion in the second quarter, while an improved office sector fueled leasing growth in that period, the firm said.
By Nish Amarnath • Aug. 7, 2024 -
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Trane Technologies commercial HVAC business backlog grows to $7.5B
The company grew commercial HVAC organic bookings in the Americas more than 20% year over year, led by continued strength in data centers, education, healthcare and high-tech industrials, it said.
By Joe Burns • Aug. 6, 2024 -
Permission granted by Cushman & Wakefield
Cushman & Wakefield sells maintenance, repair and project-management business CWFS to Vixxo
The deal for the former QSI brand will help Vixxo provide convenience stores and other multisite retail operators with equipment rollouts, HVAC-R installations and more.
By Joe Burns • Aug. 5, 2024 -
Permission granted by Schneider Electric
Schneider Electric’s Q2 revenue in North America soars amid growth in energy management
Energy management revenue organically rose 15.5% year over year to nearly $3.4 billion in North America, despite contending with supply chain challenges, the company said.
By Nish Amarnath • Aug. 5, 2024 -
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Data center sales jumped 138% last quarter, Modine says
The company is adding more capacity for its data center products, and much of that available capacity is slated to come online later this year, CEO Neil Brinker said.
By Nish Amarnath • Aug. 2, 2024 -
Johnson Controls posts backlog growth amid commercial HVAC boom, announces retirement of CEO
The company’s building solutions backlog in North America grew 14% year over year to $9 billion as it offloaded two non-core businesses, pivoting away from manufacturing.
By Joe Burns • Aug. 1, 2024 -
Cushman & Wakefield’s services revenue declines in Q2, offsetting leasing growth
The company has agreed to divest a non-core business and expects about $130 million in gross cash proceeds that will be used for strategic growth opportunities, CFO Neil Johnston said.
By Nish Amarnath • July 30, 2024
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