Clean energy solutions company Xebec Adsorption has entered into an agreement to acquire all of the outstanding securities of Applied Compression Systems (ACS).
ACS’ principals will remain with ACS after the acquisition to optimise its integration into Xebec’s industrial service, support business and to grow the operation over the coming years.
Mike Sanderman, President of Applied Compression Systems, said, “We’ve been a Xebec customer for more than a decade buying both regenerative compressed air dryers and nitrogen generators.”
“We’re happy to now be more involved with Xebec through this acquisition and are excited to help increase the number of sales channels and provide the capability to design and manufacturer full compressed air and gas systems.”
ACS has revenues of over $8m for the last twelve months with EBITDA margin of approximately 12%. The company has a strong focus on custom designed and fabricated compressor packages for specialised applications.
Dr. Prabhu Rao, Chief Operating Officer of Xebec Adsorption, said, “ACS is both a customer and supplier and has unique capabilities to design and build compressed air and gas systems.”
“This acquisition will strengthen our industrial product portfolio as a compressor integrator while simultaneously increasing our service presence in Western Canada.”