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

  • CECO Environmental Corp 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.
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