Exchanger Industries Limited (EIL), the Canadian market leader and global designer and manufacturer of heat transfer products for the energy, petrochemical, industrial and clean power generation sectors, has acquired HRS Heat Exchangers Ltd (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, 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 HRS management team will be retained by EIL and will play a critical role in executing plans for robust international expansion.
Mark el Baroudi, CEO of EIL, said: “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.”