Xebec Acquires Ontario Based Air and Gas Service Company

Source Press Release
Company Xebec Adsorption Inc. 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date December 10, 2018

Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF) (FRANKFURT: XB6.F) (“Xebec”), a global provider of clean energy solutions is pleased to announce that it has entered into an arm’s length transactional agreement on December 6th, 2018, to acquire all of the outstanding shares of Compressed Air International Inc. (“CAI”) for a purchase price of C$2,200,000, subject to customary closingadjustments, effective on January 1, 2019. CAI’s principals will remain with CAI after the acquisition to optimize CAI’s integration in Xebec’s industrial compressed air treatment business.

“This acquisition will set Xebec on a path of significant growth in its industrial compressed air treatment business, while also providing future Canada-wide service, support and operations capabilities for its cleantech and renewable gas segment. Being able to provide local service, maintenance and operational support to our cleantech customers in Ontario, especially biogas upgrading customers, is a critical component to our value proposition. To be worry-free is important to customers, and knowing that experienced local service and support is available delivers that peace of mind.”
– Kurt Sorschak, President and CEO, Xebec Adsorption Inc.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd