Trane Technologies plc (NYSE:TT) signed an agreement to acquire Assets of Farrar Scientific, LLC for approximately $370 million on September 13, 2021. As per terms of transaction, the upfront consideration is of $250 million, with a total transaction value of up to $365 million inclusive of $115 million in additional payout potential in 2025 tied to the attainment of key financial targets. The acquisition will be funded with available cash on hand. Trane Technologies will acquire 100% of Farrar Scientific’s assets, including its patented ultra-low temperature control technologies, a development and assembly operation in Marietta, Ohio, and a specialized team of engineers, sales engineers, operators, and technicians. Holly Paeper, current vice president of Strategic Sales, Commercial HVAC Americas, has been appointed president of the new business, Trane Technologies Life Science Solutions, which will operate as part of the company’s Commercial HVAC Americas business unit. Farrar Scientific personnel will join the Trane Technologies’ Life Science Solutions team. This includes Scott Farrar, founder, and chief technology officer of Farrar Scientific, who will serve as vice president of technology and innovation. Jim Vuksic, Farrar Scientific’s president and Chief Executive Officer, will serve as an advisor to the team. Transaction is subject to regulatory approval and customary closing conditions and is expected to complete on fourth quarter of 2021. Acquisition is expected to be modestly accretive to EPS in the first three years. Evan Yellin, David Zimbalist and Raffaele Bonavitacola of EC Mergers & Acquisitions acted as financial advisors for Farrar Scientific, LLC. Falls River Group also advised in the transaction. Trane Technologies plc (NYSE:TT) completed the acquisition of Assets of Farrar Scientific, LLC on October 15, 2021.