Dallas-based industrial company CECO Environmental Corp. (Nasdaq: CECE) has acquired South Korean-based manufacturing firm DS21 Co., according to a news release. DS21 specializes in solutions for oily water and sewage water treatments.
The acquisition is the latest in CECO's M&A program to advance in niche oily water and produced water treatment, demineralization water treatment and pure-water supply applications. The company said the program, when combined, represents more than $30 million in pro-forma annualized revenue.
"DS21 has significant experience and important customer relationships with respect to innovative solutions for oily water and produced water treatment that serve both the energy and industrial markets and an emerging position in the application for energy transition sector," Todd Gleason, CEO of CECO, said in the release.
CECO will also be setting up an operational base in Asia to expand regionally.
"Working together, we're able to leverage CECO's application knowledge and existing solutions with DS21's well-positioned business in East Asia and extend our niche application leadership in the industrial water treatment," Gleason said in the release.
CECO Environmental Corp. was founded in 1966. The company focuses on serving industrial air, industrial water and energy transition across the world. CECO is separated into two divisions: Engineered Systems and Industrial Process Solutions.
