What Craft does

Craft (legal entity Craft Inc., operating as Craft Group) is a privately held thermal systems design, testing, and manufacturing company headquartered in San Diego, California. Founded in 1980, the company operates five manufacturing and distribution facilities across the United States, Mexico, Philippines, Thailand, and China, employing more than 250 dedicated professionals. Its core offering spans Thermocraft-branded thermal products—including air-cooled and water-cooled condensing units, R290 hydrocarbon refrigerant systems, self-sealing brass couplings, and a 125-model line of tubular and PTC condensate pans—alongside custom thermal solutions engineered to OEM specifications.

The company runs a vertically integrated business model covering product development, design engineering, prototyping, thermal testing to industry standards (ASHRAE, SAE, DOE, AHRI, ISO, DIN, UL, EN), and contract manufacturing services including precision CNC machining (3- and 5-axis, 0.0005" tolerances), laser cutting, sheet metal fabrication, tube bending, welding (TIG/MIG/stick), metal stamping, die cutting, copper assemblies (ASTM B280), injection molding, and powder coating. Craft participates actively in HVAC/R standards development and positions its low-GWP refrigerant expertise as a regulatory hedge for customers.

Craft generates revenue primarily through quote-based, custom-engineered hardware sales and contract manufacturing services sold via a sales-led, enterprise field-sales motion to OEMs, inventors, and distributors. Pricing is not publicly disclosed; customers engage through consultation and receive multi-year contract proposals. The company serves 20 Fortune 500 customers across HVAC/R, Aviation & Defense, Medical, Comfort/Furniture, and Entertainment verticals. The firm is founder/management-owned with no disclosed institutional funding, M&A activity, or parent company, and has produced and distributed more than 7 million parts cumulatively.

Name

Craft

Legal name

Craft Inc.

Website

https://icraft.us

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

101–250 employees

Short description

Craft (Craft Inc.) is a privately held thermal systems design, testing, and manufacturer operating five global facilities, serving 20 Fortune 500 OEMs across HVAC/R, aviation & defense, medical, and commercial refrigeration with custom thermal products and contract manufacturing services.

Ownership category

akta.pro rank

Product category

HVAC/R Thermal Systems Manufacturing

NAICS

Machinery Manufacturing (333), Metalworking Machinery Manufacturing (33351), Commercial and Service Industry Machinery Manufacturing (33331), Cutting Tool and Machine Tool Accessory Manufacturing (333515)

SIC

Special Industry Machinery, Nec (3559), Machine Tools, Metal Cutting Types (3541), Plastics Products, Nec (3089)

akta.pro primary industry

Custom Injection Molding & Contract Manufacturing (Job Shops/CMs) (IMANAFAJ)

Keywords

• Thermal systems manufacturing
• HVAC/R contract manufacturing
• Refrigeration condensing units
• Precision metal fabrication
• Thermal engineering services

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Thermal Products: Sale of condensing units, R290 refrigeration couplings, condensate pans, and other thermal components
2. Engineering and Design Services: Product development, design, and prototype services for thermal challenges including experimental research and design
3. Testing Services: Thermal testing services adhering to industry standards for HVAC/R equipment validation
4. Contract Manufacturing: Custom manufacturing services including CNC machining, welding, stamping, tube bending, injection molding, powder coating, and sheet metal fabrication
5. Distribution and Supply Chain Services: Distribution and supply chain solutions to help manage supply chain challenges and mitigate risk

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Craft is a thermal systems design, testing, and manufacturing company that produces components, sub-assemblies, systems, and finished goods for original equipment manufacturers, inventors, and distributors. It operates the Thermocraft product brand for commercial refrigeration condensing units, self-sealing couplings, and condensate pans, and offers custom thermal solutions, engineering and design services, thermal testing, and a full suite of contract manufacturing capabilities (CNC machining, laser cutting, welding, stamping, tube bending, copper assemblies, sheet metal fabrication, injection molding, powder coating, die cutting). Operations span five manufacturing and distribution facilities across the US, Mexico, Philippines, Thailand, and China.

Product overview

Craft (Craft Group) is a thermal systems design, testing, and manufacturing company offering an integrated portfolio of products and contract manufacturing services. The product portfolio centers on Thermocraft-branded thermal products including condensing units (air-cooled, water-cooled, self-contained, R290 hydrocarbon), self-sealing brass couplings for refrigeration, and condensate pans (tubular and PTC evaporator types with 125 models). The company provides custom thermal solutions for specific customer requirements. Services include product development and design engineering with eco-friendly refrigerant focus, thermal testing per ASHRAE/DOE/AHRI/ISO/UL standards, and global distribution. Contract manufacturing encompasses precision capabilities including CNC machining (3- and 5-axis, 0.0005" tolerances), laser cutting, powder coating, sheet metal fabrication, tube bending, welding (TIG/MIG/stick), metal stamping, die cutting, copper assemblies (ASTM B280), and injection molding/plastics. The company operates 5 manufacturing facilities across US, Mexico, Philippines, Thailand, and China.

Differentiator

Problem solved

Functional benefit

Brands

• Thermocraft: Product brand for refrigeration condensing units, self-sealing couplings, and condensate pans under the Craft Group umbrella.

Products and services

• Thermocraft Condensing Units Commercial refrigeration condensing units including air-cooled and water-cooled variants, self-contained units, and R290 hydrocarbon refrigerant systems for HVAC/R applications.
• Self-Sealing Couplings Brass couplings and R290 refrigeration quick-disconnect couplings for air conditioning and refrigeration systems.
• Condensate Pans Tubular condensate pans and PTC (Positive Thermal Coefficient) condensate evaporator pans for evaporating defrost and condensation where traditional drain lines are absent or impractical; includes 125 models with dissipation rates from 1.5 to 16 gallons per day.
• Custom Thermal Solutions Precision cooling systems developed to meet specific customer demands when standard products do not meet product or system design requirements, including custom condensing units, integrated thermal systems, and refrigerated cabinet design consulting.
• Precision CNC Machining Production-scale CNC machining using 3- and 5-axis equipment with tolerances of 0.0005 inches; works with gray and ductile iron, steel, stainless steel, aluminum, and composites.
• Laser Cutting CNC laser cutting services for flat sheet and tube cutting, capable of cutting steel, stainless steel, aluminum, copper, brass, and nickel; equipment handles materials up to 1 inch thickness on sheets and up to 8 inches on tubes.
• Powder Coating Powder coating services for metal component protection with durability superior to solvent paints, including in-house sand blasting for surface preparation.
• Sheet Metal Fabrication Precision sheet metal forming with CNC brake presses up to 100 tons and laser capability up to 1 inch thickness; capabilities include bending, roll forming, spinning, deep drawing, and stretch forming.
• Precision Tube Bending Induction bending and mandrel bending for tubes and pipes including square and rectangular tubes, capable of producing tight-radius bends with minimal deformation; bending dies range from 1/8-inch to 3-inch outside diameter.
• Welding Services AWS-compliant welding services including TIG, MIG, and stick welding; capabilities include welding aluminum, copper, steel, and stainless steel with brazing services (robotic, induction heat, and furnace brazing).
• Precision Metal Stamping Full range of progressive metal stamping from simple blanking tools to complex progressive stamping dies; services include in-house tool design and fabrication, heat-resistant metal alloys, and value-added assembly operations.
• Die Cutting Die cutting services for flexible materials including rubber, foam, plastic, felt, cork, adhesives, Kevlar, leather, foils, fabrics, and custom laminates; handles production runs in roll or sheet stock with automated registered die cutting.
• Copper Assemblies Copper pipe and fittings for air conditioning and refrigeration manufacturers produced under ASTM B280 standards; includes robotic brazing, induction heat brazing, furnace brazing, and testing with coordinate-measuring machines and leak testing.
• Plastics / Injection Molding Injection molding services with quick turnaround on prototype molds, tooling warranty with full maintenance and replacement; custom plastic profiles and single/multi-lumen tubing extrusion in thermoplastics including PVC, PE, ABS, polycarbonate, nylon, PEEK, and TPR.
• Product Development & Design Services Engineering solutions for complex thermal challenges including eco-friendly refrigerant design, compact system design, and prototype development from concept to reality.
• Thermal Testing Services Testing capabilities adhering to ASHRAE, SAE, DOE, AHRI, ISO, DIN, UL, EN, and OEM standards with active participation in standard development.
• Distribution and Supply Chain Services Supply chain management enabling customers to focus on core business activities, with global distribution from manufacturing facilities in the US, Mexico, Philippines, Thailand, and China.

Quantifiable outcome

• 7 million+ parts produced and distributed
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Heatcraft Worldwide Refrigeration: Heatcraft manufactures commercial refrigeration condensing units, unit coolers, and components for HVAC/R OEMs. It is the most direct overlap to Craft's Thermocraft condensing unit, R290 coupling, and condensate pan portfolio serving the same commercial refrigeration channel.
• Modine Manufacturing: Modine designs and manufactures thermal management systems and heat transfer components for HVAC, refrigeration, data center, and industrial customers. It overlaps directly with Craft's thermal systems design, heat exchangers, and integrated thermal solutions across multiple end markets.
• Kelvion: Kelvion (formerly GEA Heat Exchangers) is a global manufacturer of industrial heat exchangers and thermal systems for HVAC, refrigeration, and process industries. Comparable to Craft in its custom thermal solutions and heat exchanger manufacturing capabilities.
• API Heat Transfer: API Heat Transfer designs and manufactures heat exchangers, cooling systems, and thermal management products for industrial, HVAC, and process applications. It competes in the same custom thermal systems and heat transfer manufacturing space as Craft.
• Standex International: Standex operates a specialty thermal solutions business (Standex Electronics / BST) and serves HVAC/R and industrial markets with engineered thermal components. Comparable to Craft's engineered thermal components and OEM-focused business model.
• Russell Coil Company: Russell Coil is a contract manufacturer of heat transfer coils and refrigeration components, supplying OEMs in commercial refrigeration and HVAC/R. It is a direct specialty-CM peer to Craft's thermal components and copper assembly work.

Broad incumbents

• Chart Industries: Chart Industries manufactures cryogenic and industrial heat transfer equipment across energy, food, and industrial gas markets. It overlaps with Craft's thermal systems engineering and manufacturing but operates at materially larger scale and broader end-market scope.
• Lennox International: Lennox is a major global HVAC/R systems and components manufacturer (refrigeration, cooling, heating). It is a customer/adjacent incumbent to Craft's HVAC/R OEM contracting business rather than a direct CM competitor.
• Trane Technologies: Trane Technologies is a global leader in HVAC/R systems and services, including Thermo King commercial transport refrigeration. Comparable end-market presence to Craft but operating at vastly greater scale and vertical integration.
• Welbilt (Ali Group): Welbilt, now part of Ali Group, designs and manufactures commercial foodservice and refrigeration equipment. It is a broad incumbent in commercial refrigeration and shares Craft's commercial refrigeration condensing unit customer base, though at much greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/craft_mfg
• Facebookfacebook.com/CRAFTMFG
• LinkedInlinkedin.com/company/craftmfg
• Instagraminstagram.com/craft_mfg

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Craft