Canadian market leader and globally recognised industrial and clean power generation sector designer and manufacturer Exchanger Industries Limited(EIL), has acquired manufacturer HRS Heat Exchangers.
HRS Heat Exchangers is widely recognised as the preeminent, international specialist supplier of heat exchangers and custom process systems across the environmental, food, beverage, and pharmaceuticals sectors. The seasoned HRS Heat Exchangers management team will be retained by EIL and play a critical role in executing plans for robust international expansion afforded by the strategic combination of two distinct, yet complementary, industry leaders.
“For decades, we’ve worked hard on behalf of our customers in Canada, the US and 25 countries globally, consistently providing them with mission-critical, innovative solutions in some of the most demanding environments,” says EIL CEO Mark el Baroudi.
He adds that the HRS Heat Exchangers acquisition will provide numerous benefits to its 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, liquified natural gas, emissions-free power storage and biofuels applications.
To deliver these projects competitively, the acquisition provides EIL immediate access to a cost-effective global footprint with scalable hubs in both India and Spain, and a combined portfolio of anti-fouling technologies that enhances differentiation and acts as aunique platform to create value for customers.
Additionally, El Baroudi says 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, the UK, Spain, Mexico, India, the Middle East, Malaysia, Australia and New Zealand. As evidence of this opportunity, HRS was ranked 161 in prestigious UK newspaper Sunday Times HSBC International Track 200 league table that tracks the international growth of UK-based companies.
“We’re thrilled to join the EIL family and continue our journey to building a highly respected global supplier of heat transfer products,” says HRS Heat Exchangers founder and CEO Steven Pither.
He adds that, leveraging EIL’s expertise in designing innovative heat transfer systems and their established track record in creating streamlined, highly efficient business processes will allow it to enhance its product offering and effectively scale its Spanish and Indian manufacturing operations, delivering timely, cost effective solutions to its 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,” El Baroudi highlights.