Dry ice innovator Cold Jet has announced its acquisition of fellow dry ice company IceTech.
United by common business initiatives, this agreement brings together the two, leading, international corporations in dry ice technology.
In 2015, both companies launched new and improved dry ice blasting product lines. This procurement will seek to enhance and streamline future inventions in dry ice cleaning and production technology.
Gene Cook, III, President and CEO of Cold Jet, praised the company’s new addition and said, “We believe that their expertise will greatly contribute toward expanding our product offerings. The synergies of staff and products will significantly enhance our opportunities to serve our customers and allow us to continue to be the innovative leader in the industry.
And Peer Moerk, Chairman of IceTech, supported the contract saying, “The combined company will be ideally positioned to capture the growth opportunities created by the rapidly evolving dry ice technology industry. We are excited to become part of the Cold Jet team.”
The financial terms of this deal were not disclosed but by combining their worldwide customer base, Cold Jet aim to increase their stamp on the global industry to enable customer support capabilities anywhere in the world. It will now boast facilities in 10 high profile countries, including China, Germany, and the US.
This acquisition agreement was officially approved by IceTech and Cold Jet’s respective Board of Directors and stakeholders on 13th January 2016, in Copenhagen, Denmark.