EXCHANGER-INDUSTRIES
27.7.2021 17:02:12 CEST | Business Wire | Press release
Exchanger Industries Limited (“EIL”), the Canadian market leader and globally recognized designer and manufacturer of heat transfer products for the energy, petrochemical, industrial and clean power generation sectors, has acquired HRS Heat Exchangers Ltd. ("HRS"). Financial terms were not disclosed.
HRS is widely recognized as the pre-eminent, international specialist supplier of heat exchangers and custom process systems across the environmental, food, beverage, and pharmaceutical sectors. The seasoned HRS management team will be retained by EIL and play a critical role in executing plans for robust international expansion afforded by the strategic combination of two distinct, yet complementary industry leaders.
“For decades, we’ve worked hard on behalf of our customers in Canada, the U.S. and 25 countries worldwide, consistently providing them with mission-critical, innovative solutions in some of the most demanding environments,” stated Mark el Baroudi, EIL’s CEO. “The HRS acquisition will provide numerous benefits to our customers including a broader capability to provide heat transfer solutions to environmentally sustainable projects in the biogas and wastewater treatment sectors, in addition to EIL’s existing projects in clean power generation, Liquified Natural Gas (LNG), emissions-free power storage and biofuels applications.”
To deliver these projects competitively, the acquisition provides EIL immediate access to a cost-effective global footprint with scalable hubs in both India and Spain, and a combined portfolio of anti-fouling technologies that enhances differentiation and acts as a unique platform to create value for customers.
Additionally, el Baroudi stated that the acquisition of HRS Heat Exchangers provides EIL an extraordinary opportunity to expand their exposure to an impressive international customer base across rapidly growing geographic market positions in the U.S., U.K., Spain, Mexico, India, the Middle East, Malaysia, Australia and New Zealand. As evidence of this opportunity, HRS was ranked number 161 in U.K.’s prestigious Sunday Times HSBC international top league table that tracks the international growth of U.K. based companies.
“We’re thrilled to join the EIL family and continue our journey to building a highly respected global supplier of heat transfer products,” added Steven Pither, founder and CEO of HRS. “Leveraging EIL’s expertise in designing innovative heat transfer systems and their established track record in creating streamlined, highly efficient business processes will allow us to enhance our product offering and effectively scale our Spanish and Indian manufacturing operations, delivering timely, cost effective solutions to our customer base around the world. We are confident that this will drive growth to the next level.”
“Our combined manufacturing capability and leading-edge product technologies will strengthen our value proposition and increase market penetration internationally,” said el Baroudi. “In short, this acquisition combines the capabilities of both parties to enhance an already differentiated market position. It creates better outcomes for everyone we serve.”
About Exchanger Industries Limited
Founded in Alberta Canada in 1961, Exchanger Industries Limited has more than sixty years of experience in the engineering, design, fabrication, and servicing of heat transfer solutions for the most demanding, mission critical applications. Serving customers across Canada and in 25 countries around the world, EIL’s mission is to provide cost effective investment and operating solutions through the practical application of heat transfer solutions in a wide variety of situations. EIL employs the best people in the industry and uses leading edge technologies, resulting in price-competitive solutions that are more energy efficient, long lasting and which minimize maintenance and downtime. For more information, visit www.exchangerindustries.com .
About HRS Heat Exchangers Limited
Founded in 1981, the HRS Group operates at the forefront of thermal technology, offering innovative and effective heat transfer products worldwide with a strong focus on managing energy efficiently. The company offers plate heat exchangers, corrugated tube heat exchangers (annular space heat exchangers, double tube heat exchangers, multitube heat exchangers) and scraped surface heat exchangers. HRS products and systems are used in HEVAC, food processing, chemical, pharmaceutical, water and energy industries, waste management and environmental protection. In 2019, HRS was ranked number 161 in the U.K.’s prestigious International Track 200 League Table. For more information, visit https://www.hrs-heatexchangers.com/ .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210727005097/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
VasionⓇ Enhances Global Partner Program to Accelerate AI-Powered Automation24.9.2026 16:05:00 CEST | Press release
A refreshed rewards structure, new Partner Academy, and rebuilt partner portal give partners a clearer path to sell and support agentic print and document workflows. VasionⓇ, the Intelligent Print Automation platform trusted by more than 14,000 organizations worldwide, today unveiled a comprehensive refresh of its Global Partner Program. The program delivers the resources partners expect from Vasion: always-on incentives, structured onboarding, elevated enablement, and a rebuilt portal experience, all engineered to help partners scale, compete, and deliver stronger customer outcomes as agentic AI reshapes how enterprises automate work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924791639/en/ Agentic print and document workflow environments remain an overlooked channel opportunity, as enterprises race toward agentic automation. IDC forecasts that by 2026, 40% of all Global 2000 job roles will involve working with AI ag
The Only AI Crypto Lead Prioritization Solution Built With Law Enforcement, for Law Enforcement: Elliptic Launches Pulse24.9.2026 15:15:00 CEST | Press release
Pulse delivers actionable leads in seconds, no crypto expertise required, enabling decisions in the field Elliptic, the global leader in on-chain risk, today launched Pulse. Pulse puts crypto lead prioritization directly in the hands of every frontline law enforcement and government officer. Crypto now touches every part of law enforcement, from the patrol officer on the street to the detective assigned to investigate the case. Pulse gives each of them a quick, accurate financial summary and a starting point: whether that's a crypto address on a suspect's phone, in a scam ATM victim's receipt, uncovered during a vehicle or pocket search, or found at the scene of an overdose, an arrest, or a seizure. An officer can input anything that looks like a wallet address or transaction hash. Pulse identifies it, reasons over the result, and returns a summary in plain language, enough for the officer to decide on the spot whether the case needs escalation. If a case needs further investigation, o
Just 4.7% of Financial Institutions Continuously Update Their Compliance Monitoring and Controls as Risk Changes, New Research Finds24.9.2026 15:04:00 CEST | Press release
As financial crime threats, regulations and transaction volumes evolve dynamically, most compliance programs remain built around periodic review SymphonyAI, a global leader in vertical AI product platforms, and AML Intelligence, the leading source of news and insight for the financial crime compliance community, today released the FinCrime Frontier 2026–27 Report, finding that most financial institutions still rely on periodic review cycles to manage financial crime risk, even as the threats and regulations they are meant to track continue to evolve dynamically. Based on the perspectives of more than 200 financial crime and compliance leaders, including senior leaders from major global financial institutions, the research finds that just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, while 56.8% have not adopted always-on compliance monitoring at all, are only exploring it, or remain at an early, pilot-stage level. The findi
SymphonyAI Introduces Symphony Risk Intelligence, an Agent-native Platform That Unlocks Always-on Compliance™ — the Catalyst for Transforming the Financial Crime Operating Model24.9.2026 15:04:00 CEST | Press release
New industry research finds just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, a gap regulators are now pushing institutions to close SymphonyAI today introduced Symphony Risk Intelligence (SRI), an enterprise-grade, agent-native platform built to unlock Always-on Compliance™. This is a critical shift from periodic to continuous risk and compliance management, in which institutions continuously reassess risk and adapt controls as regulations, threats and business activity change, rather than waiting for the next scheduled review. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924914614/en/ Current approaches have reached their structural limits. The FinCrime Frontier 2026–27 Report, released recently by SymphonyAI and AML Intelligence, finds just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, and 76
Boomi Appoints Mike Hickman as Chief Financial Officer24.9.2026 15:00:00 CEST | Press release
Three-decade technology finance leader joins Boomi to scale global operations, bringing experience across IPO, take-private, and large-scale acquisition integration Boomi, the data activation company for AI, today announced the appointment of Mike Hickman as Chief Financial Officer. Hickman will lead Boomi's global finance and accounting organization, spanning financial planning and analysis, accounting, treasury, tax, and financial reporting. He reports to Boomi Chairman and Chief Executive Officer Steve Lucas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924761566/en/ Boomi Appoints Mike Hickman as Chief Financial Officer Hickman brings three decades of senior finance leadership in high-growth SaaS and technology companies, with experience across the full corporate lifecycle: scaling through IPO, executing a take-private, and integrating large acquisitions. He joins from Proofpoint, where he spent seven and a half yea
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom