HRS Heat Exchangers acquired by Exchanger Industries Limited

  Enquiry / contact me

Canadian company Exchanger Industries Limited (EIL), designer and manufacturer of heat transfer products for the energy, petrochemical, industrial and clean power generation sectors, has acquired HRS Heat Exchangers Ltd (HRS). Financial terms have not been disclosed.

Mark el Baroudi, CEO of EIL
Mark el Baroudi, CEO of EIL
Steven Pither, founder and CEO of HRS
Steven Pither, founder and CEO of HRS

HRS is a specialist global supplier of heat exchangers and custom process systems across the environmental, food, beverage, chemical and pharmaceutical sectors. The acquisition by EIL creates new opportunities by combining HRS’s capabilities and market sectors with EIL’s accelerating expansion into power generation, Liquified Natural Gas (LNG), renewable energy, power storage and biofuels applications. The combined business is positioned to create market growth by providing its customers with environmentally sustainable heat exchange solutions. The seasoned HRS management team will be retained by EIL and will play a critical role in executing plans for robust international expansion afforded by the strategic combination of two distinct, yet complementary industry leaders.

Mark el Baroudi, CEO of EIL, stated: “For decades, we’ve worked hard on behalf of our customers in Canada, the U.S. and 25 countries worldwide, consistently providing them with mission-critical, innovative solutions in some of the most demanding environments, 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, Liquified Natural Gas (LNG), emissions-free power storage and biofuels applications.” Additionally, el Baroudi stated that the acquisition of HRS Heat Exchangers provides EIL an extraordinary opportunity to expand their exposure to an impressive international customer base across rapidly growing geographic market positions in the U.S., U.K., Spain, Mexico, India, the Middle East, Malaysia, Australia and New Zealand. 

Steven Pither, founder and CEO of HRS, said: “We’re thrilled to join the EIL family and continue our journey to building a highly respected global supplier of heat transfer products. 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.”
 

Posted on August 12, 2021 - (311 views)
Related articles
Ultrasonic Flow Meter for Ultra-Pure Water Applications
Methane Leak Detection System
Confidence despite Corona
Project nautilUS: Leading-edge Robotics Technology for the Inspection of Petrochemical Storage Tanks
Precise Corrosion-resistant Ultrasonic Flowmeter Series
Digital Sorters for Food Products
Ethernet-APL in a Nutshell
Flow Meters/Controllers With Real-time Ethernet Solution
Distributive IIoT Architecture
Spot-on Timing for a Plant Conversion Project
Avoid Costly Production Downtimes
SPS Smart Production Solutions
Nuremberg, 23-25 November 2021
Which enclosure cooling measures for Food & Beverage?
The Ultimate Solution for Temperature and Gas Monitoring
Handle with... CO.RA.
Shaping the Future of Process Industries
Handle with CO.RA
Absolutely Efficient. JUMO dTRANS T09 Cable transmitter for temperature.
SPSConnect: The Digital Automation Hub
Inspiring Sustainable Connections
Radar Sensor for Level Measurement in Liquids
CANopen Pressure Transmitter
External Powder Flow Sensor
Pressure Sensing with Functional Safety
Commercial Food Processing
Glass vial and syringe production
Critical Asset and Safety Solutions
Thermal Profiling Systems
Infrared Temperature Solutions
Smart Safety Valve for Technical Gases
Distributive IIoT Architecture
Boiler Management 4.0
Fixed Acoustic Imager Announced
Shaping the Future—the Ethernet-APL Field Switch
Commercial Food Processing
Glass vial and syringe production
Critical Asset and Safety Solutions
Thermal Profiling Systems
Infrared Temperature Solutions
More Safety with Top Lockout Procedures and Custom Shadowboards