Selas Acquires Maxsys
Posted on Mar 11, 2013
Maxsys Fuel Systems announces sale to Selas Heat Technology Co. LLC
Following a period of activity that has seen the UK’s leading cleantech company move into a number of international markets, Maxsys Ltd. is excited to announce their sale to US thermal application giants, Selas. Effective of October 28th, 2011, the acquisition ensures that the innovative Maxsys Fuel Systems technology will continue to make inroads into the green energy sphere, augmented by the first-class reputation enjoyed by the prestigious Selas brand.
The Philadelphia based company is part of the Lionheart Ventures private equity group and no stranger to the heat technology sector. Established in 1896, Selas has served the advanced thermal processing needs of tens of thousands of customers, providing workable heating solutions to a vast range of industries.
An unparalleled track record makes Selas the natural choice to take the Maxsys product to the next level within the US market. The revolutionary Fuel Systems have already transformed the way in which many European businesses are working. The technology magnetically pre-treats the fuel (gas or oil) supplied to burners, boilers, furnaces etc. and allows for a cleaner burn, reducing both consumption and CO2 emissions. This leads to greater cost efficiency, with a minimum 5% saving on energy expenditure.
The purchase heralds a new dawn for both Maxsys and their pioneering units, providing greater opportunities for the Fuel System’s incorporation throughout the US industrial sector. “I speak for everybody here when I say we are absolutely delighted with the acquisition,” says Maxsys Fuel Systems Ltd. Commercial Director and CEO, Paul Finnegan. “We have many instantly recognisable super brand customers and we were in search of an industrial combustion partner who had the footprint and the wherewithal to enhance our growth in both global market expansion and technology development. The Selas Group proved to be the perfect fit.”
It is a sentiment shared by Selas Heat Technology CEO and Lionheart Ventures founder, David Bovenizer: “We consider Maxsys a significant acquisition in our commitment to offering global customers a World of Combustion Solutions.”
With a mission dedicated to unlocking the growth potential of manufacturing businesses, Lionheart Ventures is ideally placed to realise the key role Maxsys Fuel Systems can play in an environmentally aware market. “Maxsys not only has a unique green technology,” David Bovenizer concludes, “but also the ability to truly make an impact in a world where we are faced with managing high energy costs, while reducing emissions and our carbon footprint.”
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