Multistack

What Multistack does

Multistack, LLC is a privately held U.S. manufacturer of modular HVAC chiller systems founded in 1989 and headquartered in Sparta, Wisconsin, with a second manufacturing facility in Winona, Minnesota. The company designs and builds modular air-cooled and water-cooled chillers, MagLev oil-free magnetic levitation centrifugal chillers, dedicated heat recovery chillers (DHRC), modular heat pumps, MultiPRO central plant controllers, and AuraGreen energy recovery ventilators, with capacity spanning 10 to 1,400+ tons. Multistack pioneered the dedicated heat recovery chiller category and has applied MagLev compressor technology across its product lines for over fifteen years, supported by its proprietary FlexSys control system that enables N+1 redundancy, fail-to-run operation, and BAS interoperability in ASHRAE 15-compliant configurations.

The company sells primarily through a global network of manufacturer representatives and distributors covering the USA, Canada, Europe, Africa, Australia, the Caribbean, Central America, South America, China, Guam, and Israel, supported by an internal inside sales team coordinating North American accounts. Revenue is generated almost entirely through project-based hardware sales (quote-based, not publicly disclosed), supplemented by paid technical training services (Service School and Sales School courses at $1,500–$2,050 per attendee) and post-sale technical support. Customers are concentrated in commercial buildings, healthcare facilities, educational institutions, government/mission-critical sites, and research laboratories, with documented installations at the Empire State Building, Princeton University, the U.S. Embassy in Santiago, Wellstar hospitals, and the J. Craig Venter Institute.

Name

Multistack

Legal name

Multistack, LLC

Website

https://multistack.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

Multistack is a private U.S. manufacturer of modular HVAC chillers, MagLev oil-free centrifugal chillers, and dedicated heat recovery chillers, serving commercial, healthcare, education, government, and research customers globally through a manufacturer-rep network.

Ownership category

akta.pro rank

Product category

Commercial HVAC and Modular Chillers

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Power Boiler and Heat Exchanger Manufacturing (332410)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Chillers & Cooling Plant Equipment (IMAHAKAE)

akta.pro secondary industries

HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB), Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Chillers, Boilers & Central Plant Operations (BPABACAG)

Keywords

• Modular HVAC chillers
• Heat recovery chillers
• Magnetic levitation compressors
• Energy recovery ventilators
• Commercial cooling systems

Headquarters

HQ city

Sparta

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. HVAC Equipment Sales: Sale of modular chiller systems, heat recovery units, air-cooled and water-cooled chillers, and packaged HVAC solutions. Products range from residential/commercial modular units to large industrial systems (60-1400 tons capacity).
2. Technical Training Services: Multistack Service School and Sales School training programs for HVAC technicians and sales representatives. Course fees range from $1,500-$2,050 depending on course length and complexity.
3. Service and Technical Support: Technical services including troubleshooting support, service request tickets, and ongoing customer support through regional representatives.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Multistack designs and manufactures modular HVAC chillers (air-cooled and water-cooled), packaged chillers, MagLev oil-free centrifugal chillers, modular heat pumps and dedicated heat recovery chillers (DHRC), MultiPRO central plant controllers, and AuraGreen fixed plate energy recovery ventilators. Equipment is sold through manufacturer representatives worldwide to commercial, institutional, healthcare, government, and research customers requiring scalable cooling, heating, and simultaneous heat recovery.

Product overview

Multistack is a manufacturer of HVAC modular chiller systems offering a comprehensive portfolio of products organized into six main categories: Modular Solutions (Air-Cooled and Water-Cooled), Packaged Solutions, MagLev Solutions, Heating Solutions, MultiPRO central plant controllers, and AuraGreen energy recovery ventilators. The core platform consists of modular chiller technology with individual products including Airstack air-cooled chillers, VME II variable speed scroll modular chillers/heaters, and MagLev oil-free centrifugal chillers. These products work together to provide scalable, efficient HVAC solutions where capacity can be added incrementally. Supporting products include MultiPRO controllers for system optimization, AuraGreen ERVs for energy recovery, and various heat recovery and heat pump modules that enable simultaneous heating and cooling applications.

Differentiator

Problem solved

Functional benefit

Brands

• MagLev: Oil-free compressor technology product line utilizing magnetic levitation bearings for superior part-load efficiency and minimal maintenance
• AuraGreen
• MultiPRO
• VME II
• Airstack

Products and services

• Modular Solutions Air-Cooled

Quantifiable outcome

• 74% reduction in chiller plant energy use at University of Hawaii Moore Hall
• +7 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, strategic and minor.

• SRS EnterprisescoreChannel Partner/ Reseller/ DistributorManufacturer's representative for New York and New Jersey region, responsible for major installations including Empire State Building and Princeton University projects
• Air Treatment CorporationcoreChannel Partner/ Reseller/ DistributorLos Angeles-based HVAC supplier that installed Multistack chillers at NBC Universal/CityWalk AMC Theater and J. Craig Venter Institute projects
• Trane NorthwestcoreChannel Partner/ Reseller/ DistributorMultistack representative in British Columbia, provided equipment for Saanich Peninsula project and installation support
• Smith EngineeringstrategicImplementation/ SI/ Consulting PartnerCollaborated with Princeton University to develop the innovative booster chiller solution, winner of 2017 IDEA Innovation Award
• PSIG-HawaiistrategicImplementation/ SI/ Consulting PartnerPerformance measurement and verification consultant for University of Hawaii Moore Hall project, providing load and efficiency measurement
• Randolph H. Murayama and AssociatesstrategicImplementation/ SI/ Consulting PartnerMechanical engineering firm that designed the HVAC system upgrades for University of Hawaii Moore Hall
• Opus DaytonKnight ConsultantsstrategicImplementation/ SI/ Consulting PartnerEngineering design team for Saanich Peninsula Thermal Energy Recovery System, awarded Federation of Canadian Municipalities Sustainable Community Award
• DEC EngineeringstrategicImplementation/ SI/ Consulting PartnerInnovative Canadian engineering corporation that designed the unique 'mini-plant' solution with Multistack DHRC chiller for Saanich Peninsula project
• Martinez InternationalminorImplementation/ SI/ Consulting PartnerContractor that installed the DHRC system at U.S. Embassy Santiago, Chile

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Trane Technologies: Trane is one of the largest commercial HVAC manufacturers globally and a direct competitor in modular and conventional chillers, including air-cooled, water-cooled, and heat recovery configurations sold to the same enterprise and institutional customers.
• Carrier Global: Carrier manufactures commercial chillers (AquaEdge, AquaSnap) and modular HVAC solutions, directly competing with Multistack's modular chiller portfolio in commercial buildings, healthcare, and government projects.
• York (Johnson Controls): York by Johnson Controls produces centrifugal, scroll, and modular chillers (e.g., YK, YVAA, YMA) and competes head-to-head with Multistack in commercial/industrial cooling and heat recovery applications.
• Daikin Applied: Daikin Applied manufactures air-cooled and water-cooled chillers (including modular and magnetic-bearing centrifugal lines such as Magnitude) directly comparable to Multistack's MagLev and modular offerings.
• Mitsubishi Electric Hydronics & IT Cooling Systems (formerly Climaveneta): Mitsubishi Electric's hydronics division produces modular and high-efficiency chillers and heat pumps (e.g., i-FX, NX series) that compete with Multistack's modular and DHRC lines, especially in European markets.
• Smardt Chillers Group: Smardt is a specialist in oil-free magnetic-bearing centrifugal chillers and a particularly close competitor to Multistack's MagLev platform in the high-efficiency, mission-critical chiller segment.

Emerging players

• Kaltra: Kaltra is a European specialist in modular chillers and heat pumps, including magnetic-bearing oil-free designs, with a more focused product set that overlaps Multistack's modular and MagLev positioning in retrofit and European markets.
• AAON: AAON manufactures high-efficiency commercial HVAC equipment including chillers, heat pumps, and air-handling units with custom engineering — a comparable niche OEM with similar vertical-segment focus on commercial/institutional customers.

Broad incumbents

• Baltimore Aircoil Company (BAC): BAC is a long-established manufacturer of cooling towers, evaporative condensers, and ice thermal storage systems. It overlaps with Multistack on commercial cooling plant equipment and competes in integrated chiller-plant projects.
• EVAPCO: EVAPCO manufactures adiabatic, evaporative, and dry coolers plus packaged chiller plant solutions, serving the same commercial/industrial cooling end markets as Multistack's water-cooled modular chillers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MultistackHVAC
• LinkedInlinkedin.com/company/multistack-llc
• Xx.com/MULTISTACK_HVAC

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Multistack