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.