Research Products' Geothermal Acquisition

MADISON, Wis. - Aprilaire manufacturer, Research Products Corp., has acquired Econar Energy Systems Corp., based in Elk River, Minn. Econar is a geothermal heat pump technology provider for residential and business customers. According to the company, the acquisition is a significant step for Research Products to provide environmentally friendly products for a growing Earth-conscious market. The new entity will be Econar GeoSystems LLC.

“There is tremendous growth opportunity for our dealers to provide energy-friendly solutions to the home or business owner,” said Larry Olsen, president of Research Products Corp., explaining one of the main motivations for bringing these two companies together. “Adding Econar to the Research Products family moves our company in the right direction to satisfy the growing customer base concerned about the future of our planet.”

The 75 Econar employees located in the home office in Elk River and the manufacturing facilities in Appleton, Minn., are expected to see more business due to Research Products’ large dealer and distributor base around the country.

“This is an exciting milestone for our company,” said Del Overholser, president of Econar. “Our goal is to improve the environment we live in and leave the world better than it was by reducing our overall carbon footprint. Our geothermal heat pumps do just that. We look forward to further expand our presence in the renewable energy market as a part of Research Products Corp.”

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Publication date: 12/15/2008

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