Barron's

This HVAC CEO Says 'It's OK to Disrupt Yourself' | At Barron's

In a Barron's interview, Train Technologies CEO Dave Regary discusses how the historic HVAC firm is reinventing itself by merging heating and cooling, emphasizing sustainability and self‑disruption. Regary notes revenue climbing from $12 billion to just over $21 billion in six years—a compound annual growth of roughly 11 % on the top line and more than 20 % on earnings—while the market cap tripled. The company’s flagship innovation combines chiller and boiler functions into a single unit, pushing coefficient‑of‑performance (COP) values above six and cutting building energy use, which accounts for 30 % of global consumption. He recalls meeting the founder’s grandson, who asked, “What did you do to the brand?” and uses that moment to illustrate the firm’s willingness to “disrupt itself.” Regary also highlights a U.S.‑centric manufacturing footprint of 21 plants, an apprenticeship pipeline training 300‑400 technicians, and a direct salesforce that fuels growth across 14 verticals, especially data centers. These moves position Train Technologies to capture efficiency‑driven retrofit markets, reduce reliance on offshore assembly, and meet rising demand for low‑carbon climate control, offering investors a rare pure‑play HVAC growth story.