CECO Environmental Acquires UK-Based Western Air Ducts For Undisclosed Sum

Author: Akanksha Bakshi | June 27, 2022 01:45pm

• CECO Environmental Corp (NASDAQ:CECE) has completed the acquisition of Western Air Ducts (UK) Ltd. and its patented air control system Inteliair. Deal terms were not disclosed.
• Western Air Ducts is an industrial air quality consultancy and engineering firm. Both brands will be folded into CECO's industrial air platform immediately.
• This acquisition adds a complementary line of standard-size cartridge and bag dust collectors that expand CECO's ability to provide in-stock solutions and quick shipment.
• "This is another strategic and accretive acquisition for CECO and expands our industrial air addressable market by more than $150 million," stated Todd Gleason, CEO of CECO Environmental.
• He further adds, "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."
• CECO Environmental held cash and equivalents of $30.3 million as of March 31, 2022.
• Price Action: CECE shares are trading higher by 2.83% at $6.17 on the last check Monday.

Posted In: CECE