The environmental technology company Nederman has acquired the Canadian company Duroair Technologies Inc, strengthening Nederman and the Extraction & Filtration Technology (E&FT) division in US & Canada.
Duroair, founded in 2012, has a unique market position in designing, manufacturing and selling climate controlled air filtration with US and Canada as the main markets. Duroair’s unique and flexible enclosures and filtration systems trap and extract fumes, dust and gases created by coating, grinding, sanding and adhesive bonding processes. The company has a strong position within the defense, aerospace and industrial manufacturing industries Including mitigation of hexavalent chromium. Duroair’s headquarter is located in Niagara Falls, Ontario, Canada.
The company has approximately 10 employees and will continue to operate under the Duroair brand.
The acquisition price implies an enterprise value of approximately CAD 11 million and there is a potential earn out of up to CAD 4 million. The acquisition is funded by cash and existing bank facilities. The turnover of Duroair for 2023 was approximately CAD 10 million, and the turnover for 2024 is forecast to exceed last year’s. The acquired business has an EBITDA margin approximately in line with that of the Nederman Group, and is expected to have a positive impact on earnings per share from today’s date.
“Duroair has a unique offering and strengthens our position and ability to protect people, planet and production from harmful effects of industrial processes. We continue to build the Clean Air Company and with this acquisition we develop our North American market presence with the potential to expand their unique range globally”, says Sven Kristensson, CEO Nederman Group.
“With the acquisition of Duroair we are able to supply a, for us, new range of products and solutions to defence and aeronautics and we further strengthen our clean air range in other industries. I am glad we are able to acquire Duroair and look forward to continued development of the company”, says Hans Dahlén, SVP and Head of the Nederman’s Extraction & Filtration Technology Division.
For further information, please contact:
| Sven Kristensson |
Matthew Cusick |
Hans Dahlén |
| CEO |
CFO |
Head of E&FT Division |
| Tel: +46 42 18 87 00 |
Tel: +46 42 18 87 00 |
Tel: +46 42 18 87 00 |
| e-mail: [email protected] |
|
|
About Nederman
Nederman is an environmental technology company and a global leader in industrial air filtration dedicated to capturing, measuring, controlling and cleaning air to make industrial production more efficient, safe and sustainable. Based on industry leading products, solutions and services in combination with an innovative IoT platform we deliver knowledge and facts needed to optimise performance and guarantee emissions compliance to protect people, planet and production.
The Nederman Group is listed on Nasdaq Stockholm. The Group has approximately 2 400 employees and presence in more than 50 countries. Learn more at nedermangroup.com
Nederman Holding AB (publ), P.O. Box 602, SE-251 06 Helsingborg, Sweden
Corporate registration number: 556576-4205
Press release (PDF)