Vast Industrial

What Vast Industrial does

Vast Industrial, operating legally as VAST Industrial Corp., is a privately held Ontario, Canada-based industrial holding company focused on growing manufacturing businesses through strategic investment, with a thematic concentration in the HVAC sector. The company's stated model is buy-and-build within industrial/HVAC manufacturing: it acquires and retains specialty manufacturers under their existing brands while operating them as wholly-owned subsidiaries. Its portfolio currently centers on Unilux HVAC Industries Inc., an HVAC manufacturer, and The Whalen Co., a Maryland-based manufacturer of fan coils and water-source heat pumps founded in 1962, which VAST acquired on 2025-11-21 to broaden its HVAC offering into terminal equipment and water-source heat pumps.

Vast Industrial generates revenue indirectly through its operating subsidiaries, which manufacture and sell HVAC components to mechanical contractors, engineers, and distribution channels across Canada and the United States. There is no unified software or consumer-facing product; the corporate entity functions as a portfolio operator with 11-50 employees at the holding level, providing strategic direction, capital allocation, and shared services to its manufacturing subsidiaries. Pricing mechanics, go-to-motion, and contract structures operate within the subsidiaries rather than at the parent.

No proprietary technology stack, AI/ML capabilities, software products, patents, certifications, leadership profiles, or funding rounds are disclosed in the available data. The investment thesis embedded in the data is a roll-up of legacy, brand-rich HVAC manufacturers (Whalen's 60+ year heritage being the most notable) into a single North American platform, targeting operational synergies and cross-portfolio distribution rather than technological differentiation.

Name

Vast Industrial

Legal name

VAST Industrial Corp.

Website

https://vastindustrialcorp.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

VAST Industrial Corp. is a privately held Ontario-based industrial holding company that acquires and operates HVAC manufacturing businesses, currently including Unilux HVAC Industries Inc. and The Whalen Co., serving mechanical and distribution customers across Canada and the United States.

Ownership category

akta.pro rank

Product category

Industrial HVAC Equipment Manufacturing

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Offices of Other Holding Companies (551112)

SIC

General Industrial Machinery & Equipment (3560), General Industrial Machinery & Equipment, Nec (3569)

akta.pro primary industry

HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB)

Keywords

• HVAC manufacturing
• Industrial holding company
• Fan coil systems
• Water-source heat pumps
• Heating ventilation air conditioning

Headquarters

HQ city

London

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Others

Core offering

VAST Industrial Corp. is an Ontario-based holding company that owns and grows HVAC manufacturing businesses. Through its wholly-owned subsidiaries Unilux HVAC Industries Inc. and The Whalen Co., it produces and sells industrial HVAC equipment, including fan coils and water-source heat pumps, to commercial and industrial customers in Canada and the United States.

Product overview

VAST Industrial Corp. is an Ontario-based holding company that grows manufacturing businesses through strategic investment in the industrial/HVAC sector. Rather than a unified software product, the company operates as a portfolio of manufacturing businesses. Their HVAC portfolio includes Unilux HVAC Industries Inc. and The Whalen Co. (acquired in November 2025), a Maryland manufacturer of fan coils and water-source heat pumps founded in 1962.

Differentiator

Problem solved

Functional benefit

Products and services

• Unilux HVAC Equipment HVAC manufacturing products produced by Unilux HVAC Industries Inc., a wholly-owned subsidiary of VAST Industrial Corp., serving commercial and industrial HVAC buyers in North America.
• The Whalen Co. Fan Coils Fan coil units manufactured by The Whalen Co., a Maryland-based wholly-owned subsidiary of VAST Industrial Corp. founded in 1962, supplied to commercial and industrial HVAC buyers in North America.
• The Whalen Co. Water-Source Heat Pumps Water-source heat pumps manufactured by The Whalen Co., a Maryland-based wholly-owned subsidiary of VAST Industrial Corp. founded in 1962, supplied to commercial and industrial HVAC buyers in North America.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves2 records

Expansion highlights4 records

Emerging players

• AAON Inc. Focused HVAC equipment manufacturer of rooftop units, air handlers, and coils serving commercial buildings, a comparable specialized HVAC maker at larger scale.

Broad incumbents

• Trane Technologies: Major manufacturer of HVAC systems including heat pumps and air handling equipment, a dominant incumbent in the categories VAST operates in.
• Daikin Applied: Leading global HVAC manufacturer producing fan coils, heat pumps, and air handlers, overlapping directly with VAST's product categories.
• Johnson Controls: Large building-technologies and HVAC equipment provider whose heating, cooling, and controls portfolio competes broadly with VAST's HVAC manufacturing businesses.
• Carrier Global: Global HVAC and refrigeration manufacturer whose broad heating, cooling, and heat pump portfolio competes with VAST's HVAC brands at massive scale.
• Modine Manufacturing: Diversified thermal-management and HVAC equipment manufacturer with overlapping heat transfer and coil products serving industrial and commercial customers.

Direct peers

• ClimateMaster: Leading manufacturer of water-source and geothermal heat pumps, directly overlapping with Whalen's water-source heat pump product line under VAST's portfolio.
• WaterFurnace International: Manufactures water-source and geothermal heat pump systems, competing head-to-head with the heat pump products VAST owns through Whalen.
• International Environmental Corporation (IEC): Produces fan coils and water-source heat pumps for commercial and institutional buildings, matching the core product categories of VAST's HVAC subsidiaries.
• First Co. Manufactures fan coils and air handlers for HVAC applications, directly comparable to Whalen's fan coil manufacturing business.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 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 Vast Industrial