M&M Carnot, a Source Capital LLC platform company, has acquired Logix, a Seattle-area controls manufacturer serving the industrial refrigeration market with controls for wineries, cold storage warehouses, distribution centers, and processing plants. Logix recently developed a CO2 system controller and an upgrade of its Axiom III processor with modern connectivity capability to meet customer demands for AI computing and IoT integration.
The transaction merges complementary strengths to create a controls provider with unique capabilities to serve the industrial refrigeration market, says M&M Carnot, which is based in Annapolis, Md.
“We are excited to welcome Logix to the M&M Carnot family,” said Dave Sholtis, CEO of M&M Carnot. “We will support their growth and development efforts, concentrating on natural refrigeration solutions.” The acquisition also will provide M&M Carnot with a physical West Coast location, Sholtis noted.
“With customers as the number one focus and expanded support from our new team, Logix is now better positioned to remain the market leader in industrial controls and continue to meet requirements for energy sustainability, safety and capability,” said Mike Ghan, co-founder of Logix.
“Logix will leverage the support and resources of the M&M Carnot team to build a more sustainable business to meet customer needs both today and decades into the future,” said Jim Conant, co-founder of Logix. “With this new affiliation, Logix gains expanded resources to offer innovative controls solutions and superior customer support, all while maintaining historic brand excellence and independence.”
Based in Kirkland, Wash., Logix will continue to operate under the Logix brand. Mike Ghan will remain with the business to technical support and guidance.