ArkMalibu Advises WARE Inc. in its Majority Sale to Armstrong International

October 2, 2023, Louisville, KY — ArkMalibu served as the exclusive financial advisor to Ivan WARE and Son, Inc d.b.a. WARE in its transaction with Armstrong International, a multi-generational family-owned business and a global leader in efficient thermal utility solutions. 

Founded in 1952, WARE started as a residential air conditioning and heating company. Founder, Ivan Ware, was a former oil burner serviceman for a local company. In 1971, under his leadership, the company expanded into the boiler rental and service business, becoming the first in the area to provide handling, supervision, installation, start-up, and operational services at the customer’s request. Under the leadership of the current management team, WARE has grown into one of the largest and most extensive boiler rental/service companies throughout the United States. The company’s 130 dedicated employees, 29 strategic rental partners, and best-in-class training program at Boiler University allow it to be ALL WAYS STEAM to its customers for decades to come.

This strategic collaboration between two respected, family-owned organizations brings immediate benefits and long-term opportunities for both companies, their valued customers and their dedicated workforce. The addition of WARE to Armstrong will strengthen North American operations and expand service offerings in the boiler rental, service, training, and installation space. Simultaneously, WARE will gain access to more than a century of thermal utility expertise, positioning itself as a major player on a global scale. One of the most exciting aspects of this investment is that both companies share common values as multi-generational, family-owned organizations. Together, they will enhance offerings, provide a greater customer experience, and foster a culture of upskilling, innovation, and success.

About WARE

Headquartered in Louisville, KY, WARE is one of the nation’s largest and most expansive boiler service/rental/training companies. Its extensive fleet of ready-to-transport boilers, team of over 130 steam experts, and best-in-class Boiler University curriculum supports WARE’s capability to offer customers world-class sales, rental, service, and training solutions both in the United States and internationally.

About Armstrong International

Armstrong International provides intelligent system solutions that improve utility performance, lower energy consumption, and reduce environmental emissions. As the industry’s leading thermal utility partner, Armstrong International can satisfy unique requirements while helping to improve efficiency and reduce energy consumption and emissions. The fifth-generation, family-owned business provides hardworking products, state-of-the-art technology, custom-engineered systems, and services, and more than a century of knowledge and experience — all organized with industry specificity. Founded in 1900, Armstrong International is headquartered in the United States, with manufacturing, sales and seminar centers located throughout the Americas, EMEA and Asia. For more information, visit

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