Carrier agrees to acquire Air Temp Heating & Air Conditioning, adding commercial HVAC service and controls in Upstate New York

Carrier Global Corporation (NYSE: CARR) announced on October 22 that it has signed a definitive agreement to acquire Air Temp Heating & Air Conditioning, Inc., a commercial and industrial HVAC and controls contractor based in Binghamton, New York, with offices in Syracuse and Utica. Carrier said the deal will grow its service and controls footprint in Upstate New York, add to its “solutions capabilities” and support its medium-term double-digit growth targets. The transaction is expected to close in the coming months.

The asset.

Air Temp was established on February 1, 1984. Carrier describes it as a full-service HVAC provider doing repairs, preventive maintenance and new installations for commercial and industrial customers, with expertise across a wide range of HVAC and building automation systems. Air Temp’s own materials add customized preventive maintenance programs, design-build, mechanical construction, system design, sheet metal fabrication, and data center and clean room work across Central New York. It has earned the Mechanical Service Contractors of America (MSCA) STAR qualification.

One detail ties the two companies together already. On its LinkedIn page, Air Temp describes itself as “the Automated Logic Controls Factory Representative for all of Central New York.” Automated Logic is Carrier’s building automation business. Carrier is buying a contractor that already sells and services its controls.

Air Temp’s website says it runs three offices and a fleet of more than 50 trucks and equipment, and its LinkedIn page lists 51 to 200 employees. We found no revenue or earnings figures from Air Temp, Carrier or news coverage. Third-party data sites publish estimates that vary widely, so we have left them out.

The buyer.

Carrier is one of the largest HVAC equipment manufacturers in the world. Its commercial business sells equipment, controls and service to data centers, healthcare facilities, schools, retail centers and offices. Air Temp will join Carrier’s commercial HVAC service and controls operations in the region.

Carrier’s contractor deals.

Carrier’s headline deals in recent years, led by its 2024 purchase of Viessmann Climate Solutions, have been equipment businesses. Alongside them, it has been buying the contractors that install and service its controls. In the U.S., Automated Logic has bought several of its own independent dealers:

• Control Systems of Ohio and Control Systems of Michigan (March 2021), a dealer since 2010 with offices in Akron, Sylvania and Southfield.
• Integrated Control Systems (January 2022), a dealer since 1996 with offices in Arizona, Colorado and New Mexico.
• Standard Plumbing Heating Controls (July 2023), a Spokane HVAC and building automation contractor founded in 1977 and a dealer since 1990.
• CCG Automation (January 2026), a 28-year-old building automation contractor in Richfield, Ohio.

Outside the U.S., Carrier has made similar purchases: Systemax and Logical Electrical & Service Solutions in Australia, and Control Solutions in British Columbia and Blaich Automation in Germany in 2025. Before that, in 2008, when Carrier was still part of United Technologies, it bought commercial service contractors including Georgia Chiller Services in Atlanta and Sharp Mechanical in St. Louis for its Carrier Commercial Service network.

Air Temp is a broader business than the controls dealers. It is a full mechanical service contractor that also does controls. Our read is that this is one of Carrier’s larger moves into U.S. commercial HVAC contracting since 2008.

When the manufacturer is the buyer.

Most commercial HVAC deals we have covered this year went to PE-backed platforms. A manufacturer buying a contractor works differently in three ways.

The buyer is permanent. There is no fund life and no second sale three to five years later. That usually means no rollover equity and no second payday, so the value sits in the cash at close and any earnout or retention package.

The buyer has its own reasons. An OEM gets the installed base, maintenance agreements, controls work and replacement pull-through on its own equipment. That can support a strong price for a contractor with a large recurring commercial service book. It also raises questions a PE buyer would not, such as what happens to work on competitors’ equipment and to the contractor’s other manufacturer relationships.

The business may change over time. PE platforms usually keep the local brand and the owner’s team. A strategic buyer often brings its own systems, pricing and branding over time. Carrier has not said whether Air Temp will keep its name.

What it means.

If you own a commercial mechanical contractor with a real maintenance agreement base and controls capability, and especially if you are already a manufacturer’s dealer or factory rep, that manufacturer belongs on your buyer list. Public consolidators, PE-backed platforms and OEMs all want recurring commercial service revenue, and they value it differently. Putting them side by side is how an owner finds the best price and terms.