Air pollution control firm sold to US counterpart
Birmingham-based Environmental Integrated Solutions (EIS), a supplier of VOC abatement, odour control, and other air pollution control solutions, has been sold to US-based CECO Environmental (CECO).
Established in 2006, EIS supports clients around the world, including recent projects in UK, throughout Europe and in USA and Canada. It was a privately owned business, with shareholders, Paul Farrington, Derek Munro and David Hampton.
CECO is a global leader in air quality and fluid handling serving the energy, industrial and other niche markets. Employing innovative technology and application expertise, CECO works to improve air quality, optimise the energy value chain and provide custom engineered solutions for applications including oil and gas, power generation, water and wastewater, battery production, poly silicon fabrication, chemical and petrochemical processing, among others.
The acquisition of EIS increases CECO’s solution capability, application depth, and knowledge expertise, as well as the coverage of its industrial customers across Europe.
Baldwins Group advised on the deal, led by corporate finance partner Rob Richardson who provided lead advisory services with support from Phil Yarwood, whilst Jenny Pape provided tax advice on the transaction.
Matt Eckl, CECO’s chief financial officer, said: “The acquisition of EIS gives us immediate access to new markets. It also offers a way into incremental markets and provides financial scale. This combination is a win-win, as EIS will leverage CECO’s supply chain in North America and CECO will gain access to EIS’s network of production partners in Europe, further expanding our lucrative asset light business model.”
Richardson added: “This was a complex transaction, made more difficult by the current Covid-19 pandemic and the working from home environment. I am proud of the way the respective advisors were able to work together to see this transaction through.
“Having worked closely on this assignment with Paul, Derek and David, I am delighted that we could help them achieve this result and wish them and the team at CECO all the best in the next phase of their journey together.”