CECO acquires rubber expansion joint manufacturer GRC

Dallas, TX – CECO Environmental Corp. announced it has completed the acquisition of industrial flow control leader GRC. As a result of the acquisition, GRC is now a part of the Effox-Flextor-Mader, Inc. (“EFM”) joint venture with Chartwell Investments Entrepreneur & Founder Capital, LLC (“Chief Capital”). Lloyd Aanonsen, president and CEO, GRC, is now the vice president and general manager of the damper and expansion joints platform for CECO.

GRC is a worldwide leader in the engineering and manufacturing of non-metallic (rubber) expansion joints and flow control products with a highly diversified industrial customer base. As originally announced on Jan. 10, CECO now serves an addressable market size of $500 million with this acquisition, thereby expanding its existing offering of EFM dampers and metallic expansion joints to include rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves. In addition, the acquisition is expected to increase CECO’s short cycle sales and be highly accretive on an earnings and cash flow basis.

“We are excited to officially welcome GRC and their strong leadership team to our organization,” said Todd Gleason, CEO of CECO Environmental. “With this acquisition, we are advancing further into the water, storm water and wastewater markets, a large area of focus for CECO’s growth this year. I look forward to working with the GRC management team in helping us deliver turnkey, environmentally friendly solutions that protect critical infrastructure, piping, and flow controls for these markets.”