Daikin has acquired Venstar, Inc. (Venstar), a leading provider of controls and energy management systems whose technology and indoor comfort solutions are found in millions of homes and light commercial applications throughout the United States, Canada, and Mexico.
The acquisition, announced today by Daikin, a subsidiary of Daikin Industries, Ltd. (DIL), the world’s largest manufacturer of HVAC systems, complements the growing market for Daikin’s environmentally friendly indoor comfort technologies, such as its high-performance inverter and heat pump solutions, and products containing R-32, an open-source refrigerant with one-third the Global Warming Potential (GWP) of the most commonly used refrigerants in the United States and Canada.
Venstar, based in Southern California and founded in 1992, designs and manufactures a wide range of innovative thermostats, with over 10 million installed. The Surveyor® Energy Management System from the company enables retailers, restaurant chains, and other multi-location businesses to remotely monitor, manage, and control energy consumption while lowering maintenance costs. Surveyor is currently used to control over 100,000 HVAC systems and building lighting in over 30,000 retail locations across North America. Venstar’s Skyport Cloud service provides businesses a secure and private powerful cloud service for command and control of HVAC systems from anywhere in the world.
Venstar will continue to be led by Venstar’s existing management team, including Steve Dushane, founder, president, and CEO, as well as all current Venstar employees, under the new ownership as a wholly owned business unit of Daikin Comfort Technologies North America, Inc. Venstar’s headquarters will remain in California, and Daikin intends to maintain the Venstar brand’s strong recognition, as well as all of Venstar’s successfully branded products.
The acquisition is one of several completed by Daikin in recent years as it works to transform the North American HVAC industry. The Daikin Texas Technology Park (DTTP), which cost $500 million and is located just northwest of Houston, now employs over 7,000 people. DTTP, at over 4 million square feet, is one of the world’s largest manufacturing facilities; 74 football fields can fit under its roof.