US emissions monitoring group snaps up gas technology business
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A Coventry based gas analysis company has been purchased by a US Group.
Thursfields corporate team advised Peter Cieslak and minority shareholders on the sale for an undisclosed sum of Gas Data and its parent company Innovational Technologies to ECOTEC International Holdings.
Gas Data was founded 30 years ago and was acquired by Cieslak, via Innovational Technologies a holding company, in 2018.
It designs and manufactures a range of industry leading gas analysers and gas monitoring systems for a variety of industrial applications, including renewable energy, environmental and security, with international presence in over 50 countries.
The company also provides a full range of installation, commissioning and maintenance services.
Gas Data is based at Seven Stars Industrial Estate.
Peter Cieslak, chief executive officer of Gas Data, said: “By becoming a part of the ECOTEC Group we will strengthen our respective brands and accelerate our continued growth in both new and existing market segments. I could not be prouder of our talented and dedicated team who will continue to make significant contributions to the new challenges that lie ahead. I look forward to our exciting future, advancing the science behind gas data, together.”
ECOTEC Group CEO Tim Novick said: “We believe this unique opportunity combines two businesses with best-in-class products and customer service operating in overlapping industries, as well as bringing together a team of astoundingly talented and dedicated employees.
“We are fully committed to the successful future of our expanded organisation.”
Greg Philp, corporate finance director at HB&O and director Wayne Gutteridge provided corporate finance and tax advice to Cieslak.
Thursfields’ corporate team, led by Tim Edwards, included Reece De-Vaney and Ellie Bryan.
Ecotec Group was advised by Monica Macheng of Bevan Brittan with corporate finance and tax advice provided by Chris Wood at Grenfell James Associates.