Multistack International Limited (ASX:MSI) markets and distributes industrial air conditioning equipment, primarily in Australia. The company distributes and services Multistack water-cooled and air-cooled water chillers, including modular scroll chillers starting at 70kWR, heat pumps, oil-free centrifugal chillers exceeding 4000kWR, VSD screw chillers, scroll and screw chillers; Organic Rankine Cycle (ORC) technologies and products such as Verdicorp ORC engines and oil-free turbo expanders for waste heat energy recovery; and heat exchangers. Incorporated in 1989 and headquartered in Moorabbin, Victoria, Australia, Multistack Australia, founded in 1985 as its wholly owned subsidiary, operates in the heating, ventilation, and air conditioning (HVAC) sector, serving commercial air-conditioning and process cooling applications with installations worldwide and agency relationships in New Zealand, the Philippines, South Korea, and the Middle East. In June 2025, the company reached an agreement in principle for Super Link Company Limited to acquire all its assets and liabilities, subject to definitive agreements and shareholder approval, with expected completion between October 21 and 31, 2025; it also settled a legal dispute with Danfoss over ORC engineering components, enabling resumed development efforts following sharp revenue declines and widened losses reported for the year ended December 31, 2024.