Ceco Environmental, a global environmental technology company focused on air pollution control (APC), energy and fluid handling and filtration industries, has acquired Emtrol, which designs and manufactures fluid catalytic cracking (FCC) and industrial cyclone technology, for $36 million.
Emtrol’s technology provides product recovery, fluid bed applications, pollution control and environmental compliance for a variety of large industries including the refinery, petrochemical and chemical sectors.
Under the terms of the acquisition, Ceco paid $32 million in cash and $6 million in Ceco shares, which vest over a two-year period.
Emtrol generates about $35 million in annual revenues with about 70 percent of its business from international markets.
Emtrol’s president and majority shareholder, Robert Giuricich, its vice president, Anthony Schmitz, and the rest of their management team and 33 employees will join Ceco and will become part of its APC group.
Giuricich will become the president of the Emtrol-Buell-FKI division of Ceco and will have leadership for the overall global cyclone technology business.
Earlier this month Ceco acquired SAT Technology, a provider of volatile organic compounds abatement services for the Chinese air pollution market.