Fort Wayne, Ind.-based WaterFurnace Renewable Energy Inc. has entered into an agreement to acquire the assets and technology of Chillit Chillers.

Chillit Chillers manufactures specialty chillers and geothermal heat pumps for industrial and large commercial applications. The company has seen increasing sales since its establishment in 2009 and has expertise in how the geothermal controls, building automation and remote monitoring software work together to optimize equipment performance.

WaterFurnace plans to continue Chillit's operations from its facility in Goshen, Ind., while it determines the best way to maximize operating efficiencies going forward.