HOUSTON and DALLAS — Koch Heat Transfer Co. LP, a subsidiary of Koch Chemical Technology Group LLC, has purchased the Alco, Alco-Twin, and Bos-Hatten brands of heat exchangers from Peerless Mfg. Co., a subsidiary of PMFG Inc.
Financial details of the transaction are not being disclosed.
Alco and Alco-Twin specialize in hairpin double-pipe and multi-tube heat exchangers, and the Bos-Hatten brand is known for shell and tube-type heat exchangers. Peerless acquired the brands in 2008 through the purchase of Nitram Energy Inc.
Koch Heat Transfer said this acquisition will allow it to expand into additional markets while continuing to leverage a dedicated team of aftermarket specialists to supply service to the current customer base.
“As part of the ongoing strategy to streamline our operations and focus on our core strengths, we have decided to divest our heat transfer business,” said Peter Burlage, PMFG chairman and CEO. “We believe the divestiture will allow greater focus on our company’s pressure products, nuclear and environmental product solutions, while enabling us to better optimize our supply chain. Koch Heat Transfer is a global provider of heat transfer equipment and will be able to better serve the heat transfer market with the Alco Products and Bos-Hatten heat exchanger designs and customer relationships included in the transaction.”
“The Alco, Alco-Twin, and Bos-Hatten brands are clearly aligned with our vision to consistently deliver heat transfer solutions that create value,” said Joel Williamson, president of Koch Heat Transfer. “We are gaining knowledgeable and experienced employees who will enhance our technical depth. We believe our dedication to meeting the heat transfer needs of our customers will grow these brands even further.”
For more information, visit www.kochheattransfer.com.
Publication date: 4/13/2015