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CECO Environmental Expands Industrial Air Offering with UK-Based Acquisition
Deal Adds Energy-Saving Smart Controls, Standard Products and Service Offerings to CECO DALLAS, June 27, 2022 /PRNewswire/ -- CECO Environmental Corp.
About this update from Ceco Environmental Corp.
[{"type":"text","content":"Deal Adds Energy-Saving Smart Controls, Standard Products and Service Offerings to CECO\nDALLAS, June 27, 2022 /PRNewswire/ -- CECO Environmental Corp. (Nasdaq: CECE) (\"CECO\"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today announced it has completed the acquisition of industrial air quality consultancy and engineering firm, Western Air Ducts Ltd. (\"Western Air\"), and its patented air control system Inteliair®. Effective immediately, both brands will be folded into CECO's industrial air platform.\n\n \n \n \n \n \n \n\n \nWestern Air is a leading global firm in dust and fume extraction solutions, providing industrial air consultation, design, manufacturing, installation, and aftermarket parts and services. The acquisition adds a complementary line of standard size cartridge and bag dust collectors that expand CECO's ability to immediately provide in-stock solutions and quick shipment.\nAdditionally, Western Air's Inteliair Intelligent Control System utilizes smart sensor technology to sense demand, and automatically adjust and control air flow, particulate matter, and help customers reduce energy costs by 40 percent or more while simultaneously reducing their carbon footprint. Inteliair has been recognized by the UK Carbon Trust for energy savings and environmental impact. Applications include, but are not limited to, hydrogen extract systems for offshore wind, waste extraction for aerospace composites, and dust collection for engineered wood manufacturing.\n\"This is another strategic and accretive acquisition for CECO and expands our industrial air addressable market by more than $150 million,\" said Todd Gleason, Chief Executive Officer, CECO Environmental. \"The acquisition adds a standard product offering to our extensive dust collector portfolio, and the Inteliair energy-efficient smart logic controls provide significant opportunity for growth and global product introductions.\"\n\"We are excited to welcome Western Air to our organization and we look forward to working with their leadership team to accelerate growth and new product and service offerings. This is another important addition to our leading industrial air portfolio as the business adds higher-than-CECO-average margins, 100 percent short-cycle business mix an...