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Noblesville-based Helmer Scientific, which makes temperature-controlled storage equipment for hospitals, labs, blood banks, and pharmacies, has been acquired by heating-and-cooling tech giant Trane Technologies, the companies announced Monday.
The companies said Helmer Scientific’s 425 employees have joined Trane Technologies, and the business will continue its operations in Noblesville.
An acquisition price was not disclosed.
Helmer Scientific, 14400 Bergen Blvd., was co-founded by David Helmer in 1977. It designs, integrates, manufactures, markets and distributes specialized medical and laboratory equipment to clinical and life science customers in more than 125 countries. Its products include medical-grade refrigerators, freezers and defrosters for vaccines, medicines, blood products and other perishable medical supplies.
The company ranks fourth on IBJ’s list of Indianapolis-area medical device companies and fifth on the list of life science companies.
Helmer spent more than $10 million on an expansion in 2012 that included a 137,000-square-foot manufacturing and headquarters facility at the Saxony Corporate Campus near Interstate 69. The company saw growth during the height of the COVID-19 pandemic as demand grew for temperature-controlled vaccine storage units.
Trane said the acquisition of Helmer Scientific broadens its capabilities in precision temperature control and its existing portfolio of life science products under the Farrar brand.
“Helmer Scientific has served the clinical health market as an industry leader and trusted partner for customers for more than four decades,” said Bruce King, CEO of Helmer Scientific, in written remarks. “I’m confident Helmer’s rich legacy and industry impact will continue and reach new heights as part of Trane Technologies.”
Trane is based in Ireland and has its North American headquarters in Davidson, North Carolina. The company has about 39,000 employees in nearly 60 countries, including 25,000 in the United States. It reported revenue of $16 billion and a profit of $1.77 billion in 2022.
In the United States, Trane is a dominant manufacturer in heating and air conditioning equipment, air and gas compressors and industrial spraying equipment. Trane has 38 manufacturing plants around the world, including one in Rushville, Indiana.
Trane used to be known as Ingersoll-Rand PLC, which had two business segments: climate and industrial. In 2020, the company spun off its industrial business, combined it with Gardner Denver Holdings Inc. and renamed Gardner Denver as Ingersoll-Rand Inc.
“We are delighted to welcome the Helmer Scientific associates and customers to Trane Technologies,” said Holly Paeper, president of life science solutions for Trane. “Helmer is a recognized leader in its field with industry-leading technology, an experienced team, and deep customer relationships with major clinical, acute care and life sciences companies around the world. We look forward to building on Helmer’s longstanding success as we combine our collective strengths to deliver even greater value to customers.”
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