HRS Heat Exchangers acquired by Exchanger Industries Limited
HRS Heat Exchangers has announced that it has been acquired by Canadian company Exchanger Industries Limited (EIL).
HRS is a specialist global supplier of heat exchangers and custom process systems across the environmental, food, beverage, chemical and pharmaceutical sectors. The company said the acquisition by EIL creates new opportunities by combining HRS’s capabilities and market sectors with EIL’s expansion into power generation, liquefied natural gas (LNG), renewable energy, power storage and biofuels applications.
“For decades, we’ve worked hard on behalf of our customers in Canada, the US and 25 countries worldwide, consistently providing them with mission-critical, innovative solutions in some of the most demanding environments,” said Marl el Baroudi, CEO of EIL. “The HRS acquisition will provide numerous benefits to our customers including a broader capability to provide heat transfer solutions to environmentally sustainable projects in the biogas and wastewater treatment sectors, in addition to EIL’s existing projects in clean power generation, LNG, emissions-free power storage and biofuels applications.”
The acquisition provides EIL access to a global footprint with scalable hubs in both India and Spain, and a combined portfolio of anti-fouling technologies that it believes will enhance differentiation and act as a unique platform to create value for customers.
Additionally, el Baroudi stated that the acquisition of HRS Heat Exchangers provides EIL an opportunity to expand its exposure to an impressive international customer base across rapidly growing geographic market positions in the US, UK, Spain, Mexico, India, the Middle East, Malaysia, Australia and New Zealand.
“We’re thrilled to join the EIL family and continue our journey to building a highly respected global supplier of heat transfer products,” said Steven Pither, founder and CEO of HRS. “Leveraging EIL’s expertise in designing innovative heat transfer systems, and their established track record in creating streamlined, highly efficient business processes will allow us to enhance our product offering and effectively scale our Spanish and Indian manufacturing operations; delivering timely, cost effective solutions to our customer base around the world. We are confident that this will drive growth to the next level.”
“Our combined manufacturing capability and leading-edge product technologies will strengthen our value proposition and increase market penetration internationally,” continued el Baroudi. “In short, this acquisition combines the capabilities of both parties to enhance an already differentiated market position. It creates better outcomes for everyone we serve.”
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