Clean energy solutions provider Xebec Adsorption has acquired Tiger Filtration (TFL).
Announcing the acquisition on Monday (14th June), Xebec said the purchase will allow for the expansion of its product portfolio to include filtration products for hydrogen and renewable natural gas.
Further to that, the acquisition of the UK-based company will provide Xebec with a profitable and recurring aftermarket manufacturing business for elements and filters.
Commenting on the news, Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption, said, “TFL provides Xebec with a unique opportunity to vertically integrate into the valuable aftermarket business for filters and elements.”
“The acquisition will be immediately accretive and bring TFL’s products to our service subsidiaries which will be leveraging our sales and distribution networks to increase revenues.”
“Ultimately, the acquisition positions us well as we look to transition from being predominantly an equipment supplier to a support and service-oriented organization with recurring revenue streams for renewable and low carbon gases.”
Founded in 2004, TFL has worldwide recognition for providing alternatives for the compressed air and gases industry and is now an internationally active company.
As a result of the acquisition two of TFL’s principals will return, however, Gary Ashton will remain with the company as Managing Director, continuing his leadership in sales and business development.
Aston, commented, “We started TFL almost two decades ago and are happy to be handing over the company to Xebec, a company with a clear focus on clean technologies. I am particularly proud of the efficient manufacturing platform that we’ve created and that can successfully compete with the compressed air and gas multinationals.”
“I believe that TFL will enable Xebec to not only capture immediate sales and costs synergies but also help create products for the energy transition, as our knowledge will facilitate the development of filter products for hydrogen and RNG,”