ACHRNEWS

Dec. 11, 2012: Enertech Global Acquires GeoSystems

December 11, 2012
GREENVILLE, Ill. — Enertech Global announced that it has acquired the assets and intellectual property of GeoSystems LLC, Maple Grove, Minn., from Research Products Corp., Madison, Wis. GeoSystems is the manufacturer of ECONAR, GeoSource, and HydroHeat geothermal products. Enertech Global said these three product lines will be manufactured and sold by Enertech through GeoSystems’ current marketing channels of dealers and distributors throughout the country.

“We are thrilled about the opportunity this acquisition represents for both Enertech Global and GeoSystems,” said Steve Smith, president of Enertech. “In looking at our goals as a company, this move makes sense for us with some of the technology that they are currently utilizing as well as their existing dealer network. It’s a great way to improve our own product line and grow our company at the same time.”

Enertech said it would move production of the GeoSystems product lines to its state-of-the-art manufacturing facility in Mitchell, S.D. Enertech said it would also relocate key personnel to its facility in Mitchell as well as its corporate office in Greenville, Ill.

“This acquisition is part of a larger strategy at Enertech Global to strengthen our bottom line, continue in our pursuit of producing the highest quality geothermal units on the market today, and grow our business in areas that were previously not available to us,” said Bradley Lanter, chief financial officer at Enertech.

For more information, visit www.enertechgeo.com.

Publication date: 12/10/2012