Market news, 05 February 2025
TICA completes its acquisition of Smardt Chiller Group
Date:
11 May 2022
TICA, now the 100% shareholder of global Smardt Chiller Group, announces the expansion of all of the global Smardt manufacturing facilities, further supporting Smardt’s global leadership of the oilfree centrifugal chiller category.
TICA and Smardt share a primary focus on energy conservation through water-side oil-free chillers and air-side AHU’s and system integration. The joint product offering offers lowest cost of system ownership for major customers especially in critical facilities like airports, metros, healthcare, electronics, clean rooms, and data centers.
Jiang Li, TICA chairman, has assumed the additional role of Executive Chairman of Smardt, succeeding Smardt and Turbocor founder Roger Richmond-Smith, who retires as chairman emeritus.
Mr. Jiang stated: “we are very excited to renew the global growth of Smardt, whose strategic fit with TICA is symbiotic in terms of their shared focus on energy efficiency as well as complementary products, global market reach and global manufacturing footprint. This is an exciting time for our combined employees with increasing opportunities in many new areas.” Mr. Jiang added “I would like to sincerely thank Roger Richmond-Smith, for his continuous support and leadership. We will always regard Roger as the visionary founder and the soul mentor. Indeed he was the dare devil bringing the magnetic bearing technology to the HVAC industry by his strong sense of belief and this will be followed in the future development of Smardt”.
Roger Richmond-Smith said: “This renewed investment in state of the art oil-free technology represents an exciting time for the market. With TICA at the helm, I am confident that Smardt will continue to lead the oil-free sector of the global HVAC industry.”
Smardt, the Canadian based global leader in oil free chillers, was founded in 2005 by Roger Richmond-Smith, with a global R&D, global manufacturing operation (Montreal- Canada, Plattsburgh-USA, Melbourne-Australia, Guangzhou-China, Nanjing-China, and Stuttgart-Germany) and sales and service operations covering the Americas, Asia Pacific, Australia, China and EMEA.
TICA, established in 1991, is a professional company integrating R&D, manufacture, sales and services of total solutions in the HVAC and green energy sectors. TICA has established 5 manufacturing bases in Nanjing, Tianjin, Guangzhou, Chengdu and Kuala Lumpur, research and development centers in China, Japan, Italy, Australia and Canada as well as 100+ sales and service outlets.
TICA and Smardt share a primary focus on energy conservation through water-side oil-free chillers and air-side AHU’s and system integration. The joint product offering offers lowest cost of system ownership for major customers especially in critical facilities like airports, metros, healthcare, electronics, clean rooms, and data centers.
Jiang Li, TICA chairman, has assumed the additional role of Executive Chairman of Smardt, succeeding Smardt and Turbocor founder Roger Richmond-Smith, who retires as chairman emeritus.
Mr. Jiang stated: “we are very excited to renew the global growth of Smardt, whose strategic fit with TICA is symbiotic in terms of their shared focus on energy efficiency as well as complementary products, global market reach and global manufacturing footprint. This is an exciting time for our combined employees with increasing opportunities in many new areas.” Mr. Jiang added “I would like to sincerely thank Roger Richmond-Smith, for his continuous support and leadership. We will always regard Roger as the visionary founder and the soul mentor. Indeed he was the dare devil bringing the magnetic bearing technology to the HVAC industry by his strong sense of belief and this will be followed in the future development of Smardt”.
Roger Richmond-Smith said: “This renewed investment in state of the art oil-free technology represents an exciting time for the market. With TICA at the helm, I am confident that Smardt will continue to lead the oil-free sector of the global HVAC industry.”
Smardt, the Canadian based global leader in oil free chillers, was founded in 2005 by Roger Richmond-Smith, with a global R&D, global manufacturing operation (Montreal- Canada, Plattsburgh-USA, Melbourne-Australia, Guangzhou-China, Nanjing-China, and Stuttgart-Germany) and sales and service operations covering the Americas, Asia Pacific, Australia, China and EMEA.
TICA, established in 1991, is a professional company integrating R&D, manufacture, sales and services of total solutions in the HVAC and green energy sectors. TICA has established 5 manufacturing bases in Nanjing, Tianjin, Guangzhou, Chengdu and Kuala Lumpur, research and development centers in China, Japan, Italy, Australia and Canada as well as 100+ sales and service outlets.
