Amsted Industries is exploring a potential sale of Baltimore Aircoil Co. and has brought in financial advisers to field interest, people with knowledge of the process said. They asked not to be identified because the discussions are private. Representatives for both Amsted and BAC did not immediately return requests for comment.
According to those people, BAC might command a price exceeding $6 billion if a deal comes together. They also noted that Amsted might ultimately keep the unit. Potential acquirers could include HVAC companies as well as other industrial operators.
The process will gauge if buyers are prepared to place new wagers on the data-center build-out continuing at a rapid clip. Strategic buyers have been active in this category lately. Eaton Corp. agreed last year to buy Boyd Thermal for $9.5 billion, and Ecolab Inc. struck a $4.75 billion deal for CoolIT this year.
Baltimore Aircoil traces its roots to 1924 and the vision of a Russian immigrant founder. The company's website says it supplies cooling towers and other refrigeration solutions for data centers, and it also serves customers in heavy industry, the energy sector, commercial buildings, and food and beverage. The site also lists operations across North America, Europe and Asia.
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If Amsted sells or opts to keep BAC, the outcome will signal how confident industrial buyers are that the broader data-center expansion still has legs. That read-through matters for everything from equipment makers to power and cooling vendors your funds may already own.
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