–Announces Record Revenue Order Book of $155 million—
Kontrol Technologies Corp. (KNR) a leader in smart building technologies announces the completion of the acquisition of Global HVAC & Automation Inc. (“Global“) and a record revenue order book of $155 million.
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“We are excited to complete such a significant acquisition, which adds substantial new revenues and the largest consolidated revenue order book in our operating history,” said Paul Ghezzi, CEO of Kontrol. “This acquisition brings with it an impressive roster of new customers and technical capabilities, which we believe should create many potential lucrative cross-selling opportunities. As such, the acquisition of Global has the potential to drive significant growth and scale for Kontrol over the long term. With a consolidated revenue order book of $155 million, we are well poised for our next stage of growth.”
Corporate Outlook
Kontrol anticipates full year revenue for 2021 will be in the $38 million range up from $13million in 2020 and anticipated 2021 Adjusted EBITDA* of $3.7 Million.
For 2022 Kontrol anticipates revenues in the range of $65 to $70 million and Adjusted EBITDA* in the range of $4.5 to $4.8 million.
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The Importance of HVAC Systems and Automation for Smart Buildings
Global provides integrated installations of complex heating, cooling, ventilation and building automation systems to its customers.
Heating, ventilation, and air conditioning (HVAC) systems can account for up to 70% of overall energy consumption in commercial buildings. Efficient and smart HVAC systems can drive important intelligence and improvements to make buildings more sustainable, profitable and healthier.
Kontrol already provides its customers with a growing suite of Internet of Things (IoT) and cloud-based technology to optimize heating, cooling, and ventilation, as well as overall energy management and emission reduction. Kontrol specializes in the provision of real-time monitoring, asset optimization, data analytics, and enhanced facility management. This is driven by Kontrol’s smart-learning software platform, which provides the Company with a crucial competitive edge.
Global’s service offering complements Kontrol’s existing product portfolio neatly. The combination of the two is expected to create significant growth opportunities over the coming years.
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