ConnectM Announces Acquisition of Air Temp, Strengthening Owned Service Network
ConnectM Technology Solutions (NASDAQ: CNTM) has announced the acquisition of Air Temp Service Co., a leading New Jersey-based HVAC solutions provider, in an all-stock transaction valued at 1.5 million shares of ConnectM common stock. The acquisition strengthens ConnectM's Owned Service Network segment and will enable cross-selling of distributed energy solutions to Air Temp's existing HVAC customer base.
The strategic integration will see ConnectM deploying its Connected Operations applications to monitor Air Temp's HVAC equipment and prevent failures. Performance data from Air Temp's equipment will be incorporated into ConnectM's Energy Intelligence Network, enhancing predictive capabilities and driving recurring revenue growth. The move aligns with ConnectM's mission to advance electrification solutions and transition to a cleaner energy economy.
ConnectM Technology Solutions (NASDAQ: CNTM) ha annunciato l'acquisizione di Air Temp Service Co., un importante fornitore di soluzioni HVAC con sede nel New Jersey, in un'operazione interamente in azioni del valore di 1,5 milioni di azioni ordinarie di ConnectM. Questa acquisizione rafforza il segmento Owned Service Network di ConnectM e permetterà la vendita incrociata di soluzioni energetiche distribuite alla base clienti HVAC di Air Temp.
L'integrazione strategica prevede che ConnectM implementi le sue applicazioni Connected Operations per monitorare gli impianti HVAC di Air Temp e prevenire guasti. I dati sulle prestazioni degli impianti di Air Temp saranno integrati nella Energy Intelligence Network di ConnectM, migliorando le capacità predittive e favorendo la crescita dei ricavi ricorrenti. Questa iniziativa è in linea con la missione di ConnectM di promuovere soluzioni di elettrificazione e la transizione verso un'economia energetica più pulita.
ConnectM Technology Solutions (NASDAQ: CNTM) ha anunciado la adquisición de Air Temp Service Co., un destacado proveedor de soluciones HVAC con sede en Nueva Jersey, en una transacción totalmente en acciones valorada en 1.5 millones de acciones ordinarias de ConnectM. Esta adquisición fortalece el segmento Owned Service Network de ConnectM y permitirá la venta cruzada de soluciones de energía distribuida a la base de clientes HVAC existente de Air Temp.
La integración estratégica implicará que ConnectM implemente sus aplicaciones Connected Operations para monitorear los equipos HVAC de Air Temp y prevenir fallos. Los datos de rendimiento de los equipos de Air Temp se incorporarán a la Energy Intelligence Network de ConnectM, mejorando las capacidades predictivas y fomentando el crecimiento de ingresos recurrentes. Esta acción está alineada con la misión de ConnectM de promover soluciones de electrificación y la transición hacia una economía energética más limpia.
ConnectM Technology Solutions (NASDAQ: CNTM)는 뉴저지에 본사를 둔 선도적인 HVAC 솔루션 제공업체인 Air Temp Service Co.를 ConnectM 보통주 150만 주에 해당하는 전액 주식 거래로 인수했다고 발표했습니다. 이번 인수는 ConnectM의 Owned Service Network 부문을 강화하고 Air Temp의 기존 HVAC 고객 기반에 분산 에너지 솔루션을 교차 판매할 수 있게 합니다.
전략적 통합을 통해 ConnectM은 Connected Operations 애플리케이션을 배포하여 Air Temp의 HVAC 장비를 모니터링하고 고장을 방지할 예정입니다. Air Temp 장비의 성능 데이터는 ConnectM의 Energy Intelligence Network에 통합되어 예측 능력을 향상시키고 반복 수익 성장을 촉진할 것입니다. 이 조치는 전기화 솔루션을 진전시키고 더 깨끗한 에너지 경제로 전환하려는 ConnectM의 사명과 부합합니다.
ConnectM Technology Solutions (NASDAQ : CNTM) a annoncé l'acquisition d'Air Temp Service Co., un fournisseur majeur de solutions HVAC basé dans le New Jersey, dans le cadre d'une transaction entièrement en actions évaluée à 1,5 million d'actions ordinaires ConnectM. Cette acquisition renforce le segment Owned Service Network de ConnectM et permettra la vente croisée de solutions énergétiques distribuées auprès de la clientèle HVAC existante d'Air Temp.
L'intégration stratégique prévoit que ConnectM déploie ses applications Connected Operations pour surveiller les équipements HVAC d'Air Temp et prévenir les pannes. Les données de performance des équipements d'Air Temp seront intégrées au Energy Intelligence Network de ConnectM, améliorant ainsi les capacités prédictives et stimulant la croissance des revenus récurrents. Cette démarche s'inscrit dans la mission de ConnectM visant à promouvoir les solutions d'électrification et la transition vers une économie énergétique plus propre.
ConnectM Technology Solutions (NASDAQ: CNTM) hat die Übernahme von Air Temp Service Co., einem führenden HVAC-Lösungsanbieter mit Sitz in New Jersey, in einer reinen Aktientransaktion im Wert von 1,5 Millionen ConnectM-Stammaktien bekannt gegeben. Die Übernahme stärkt das Segment Owned Service Network von ConnectM und ermöglicht den Cross-Selling-Verkauf von verteilten Energielösungen an die bestehende HVAC-Kundschaft von Air Temp.
Die strategische Integration sieht vor, dass ConnectM seine Connected Operations-Anwendungen einsetzt, um die HVAC-Anlagen von Air Temp zu überwachen und Ausfälle zu verhindern. Leistungsdaten der Anlagen von Air Temp werden in das Energy Intelligence Network von ConnectM integriert, wodurch die Vorhersagefähigkeiten verbessert und das Wachstum wiederkehrender Einnahmen gefördert wird. Dieser Schritt entspricht der Mission von ConnectM, Elektrifizierungslösungen voranzutreiben und den Übergang zu einer saubereren Energiewirtschaft zu unterstützen.
- All-stock transaction preserves cash resources while expanding market presence
- Integration enables cross-selling opportunities to Air Temp's established customer base
- Addition of performance data to strengthen predictive capabilities and recurring revenue
- Strategic expansion of Owned Service Network segment in the HVAC sector
- Potential share dilution from issuing 1.5 million new common shares
- Integration risks in combining operations and technologies
Transaction adds proven HVAC solutions leader to ConnectM's expanding constellation of brands
Air Temp, which significantly bolsters ConnectM's Owned Service Network segment, will leverage ConnectM's omnichannel platform to cross-sell distributed energy solutions to its established HVAC customer base. Additionally, ConnectM will deploy its Connected Operations applications to proactively monitor and safeguard Air Temp's HVAC equipment offerings against avoidable failures. Performance data collected from Air Temp equipment will integrate seamlessly into ConnectM's Energy Intelligence Network, enhancing predictive capabilities and driving increased recurring revenue.
John Pitcavage, ConnectM's President of Home and Building Electrification, remarked, "We are thrilled to welcome Air Temp into ConnectM's growing constellation of modern energy economy brands. This strategic addition brings us closer to our vision of comprehensive electrification solutions and positions us to deliver even greater value to both residential and commercial customers. Air Temp's longstanding commitment to excellence aligns perfectly with ConnectM's mission to accelerate the transition to a smarter, cleaner energy economy."
About Air Temp
For over 25 years, Air Temp has earned a reputation as the trusted choice for reliable HVAC services in
About ConnectM Technology Solutions, Inc.
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy, enabling a faster, smarter transition to a modern energy economy. The Company delivers an advanced, proprietary Energy Intelligence Network platform designed to empower residential and commercial service providers and original equipment manufacturers to optimize energy efficiency, enhance operational performance, and support sustainable innovation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.
For more information, please visit: https://www.connectm.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the "Cautionary Note Regarding Forward-Looking Statements" section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CNTM@redchip.com
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SOURCE ConnectM Technology Solutions, Inc.
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