TraneOregon has been sold to Trane U.S., a subsidiary of Ingersoll-Rand PLC., which had nearly $13 billion in 2014 sales.
Terms of the deal were not disclosed.
TraneOregon is one of the largest commercial heating and ventilation companies in Portland and southwest Washington. It serves some of the Portland area’s largest commercial buildings.
Bob Davis acquired TraneOregon in 1982 and has grown the company from 11 employees to 85.
Orca Capital Securities LLC and Stoel Rives LLP advised TraneOregon. “TraneOregon is a great company emblematic of our region’s growth,” said Orca Capital Managing Director Randy Moe, in a news release. “We are delighted to have assisted in achieving a well-deserved result for its owner.”
Trane U.S. is based in Piscataway, N.J.