CECO, a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, has completed the acquisition of DS21 Co., Ltd. (DS21), a South Korean-based design and manufacturing firm specializing in innovative water and wastewater treatment solutions.
The DS21 acquisition is the latest in CECO's programmatic M&A program of the past 12 months, which when combined represent more than $30 million in pro-forma annualized revenue. The addition of DS21 to CECO's industrial water portfolio advances CECO's leadership position in niche oily water and produced water treatment, demineralization water treatment and ultra-pure water supply applications within the industrial water market. The acquisition also provides CECO with an operational base in Asia from which to expand regionally.
"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 applications for energy transition sector," said Todd Gleason, Chief Executive Officer, CECO Environmental. "DS21 is a complementary brand to CECO's water portfolio and will advance our relationships, better positioning CECO for growth with key global customers, including major EPCs, and providing us with a world-class manufacturing and engineering footprint in East Asia."
Added Gleason, "We have known DS21 and members of its leadership team for a number of years as we both serve many of the same end markets in Asia and the Middle East regions. 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."
