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Trane Technologies Completes Acquisition of Farrar Scientific, a Leader in Ultra-Low Temperature Control

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SWORDS, Ireland, October 15, 2021--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), a global climate innovator, has completed the acquisition of Farrar Scientific, which the company announced in a press release on September 13, 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211015005618/en/

Holly Paeper, president of Trane Technologies’ new Life Science Solutions business (Photo: Business Wire)

Farrar Scientific is a critical supplier for bioscience and biopharmaceutical customers that provides proprietary technology to fill an unmet need for flexible, modular, and efficient ultra-low temperature processing and storage, including cooling and heating/thawing.

"We are delighted to officially welcome Farrar Scientific associates," said Holly Paeper, who has been appointed as president of Trane Technologies’ new Life Science Solutions business, which operates as part of the company’s Commercial HVAC business unit. "Trane Technologies’ world-class business operating system and expertise in refrigeration, cold chain and sustainable climate controls combined with Farrar’s specialized expertise in ultra-low temperature control will enable us to deliver even greater value to customers around the world in the critical biopharmaceutical and life science industries."

About Trane Technologies

Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Learn more at tranetechnologies.com.

This news release includes "forward-looking statements," which are statements that are not historical facts, including statements about the expected benefits of the proposed transaction and the growth of the business. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Such factors include, but are not limited to, our ability to timely obtain necessary regulatory approvals of the proposed transaction and to timely complete the proposed transaction; our ability to fully realize the expected benefits of the proposed transaction; negative effects of announcement or consummation of the proposed transaction on the market price of the company’s ordinary shares; significant transaction costs and/or unknown liabilities; general economic and business conditions that may impact the companies in connection with the proposed transaction; the impact of the proposed transaction on the company’s employees, customers and suppliers; and the ability of the companies to successfully integrate operations after the transaction. Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2020, as well as our subsequent reports on Form 10-Q and other SEC filings. We assume no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211015005618/en/

Contacts

Media Contact:
Jennifer Regina
+1-630-390-8011
jennifer.regina@tranetechnologies.com

Investors Contact:
Zachary Nagle
+1-704-990-3913
zachary.nagle@tranetechnologies.com

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