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CECO Environmental Corp., based in Cincinnati, has completed the acquisition of DS21 Co. Ltd., a South Korean-based design and manufacturing firm specializing in innovative water and wastewater treatment solutions.
The addition of DS21 to CECO's industrial water portfolio advances CECO's leadership position in niche oily water and produced water treatment, demineralization water treatment and ultrapure water supply applications within the industrial water market. The acquisition also provides CECO with an operational base in Asia from which to expand regionally.
"DS21 has significant experience and important customer relationships with respect to innovative solutions for oily water and produced water treatment that serve both the energy and industrial markets, and an emerging position in the applications for energy transition sector," says Todd Gleason, CEO of CECO Environmental. "DS21 is a complementary brand to CECO's water portfolio and will advance our relationships, better positioning CECO for growth with key global customers, including major EPCs, and providing us with a world-class manufacturing and engineering footprint in East Asia."
Gleason adds the company will be able to leverage CECO's application knowledge and existing solutions with DS21's well-positioned business in East Asia and extend niche application leadership in industrial water treatment.
The DS21 acquisition is the latest in CECO's programmatic M&A program of the past 12 months, which, when combined represents more than $30 million in proforma annualized revenue.