Cold Jet® – the inventor and world leader in developing innovative, environmentally responsible dry ice cleaning and dry ice production solutions – today announced it has completed the acquisition of IceTech. United by common business initiatives, this acquisition brings together the two leading, global innovators in dry ice technology and enables Cold Jet to increase the value it delivers to global customers.
In 2015, both companies launched new and improved dry ice blasting product lines and strengthened their global reach by welcoming new partners and distributors. This acquisition will leverage the strengths of both companies to enhance and streamline future innovations in dry ice cleaning and production technology.
With collective global facilities – including in the United States, Canada, Mexico, Denmark, Germany, Poland, Belgium, Spain, Japan, China – Cold Jet’s global footprint will enable world-class customer support capabilities anywhere in the world.
“IceTech brings in a versatile dry ice technology portfolio and an established, global customer base,” said Gene Cooke, III, President and CEO of Cold Jet. “As we welcome them into the Cold Jet family, we believe that their expertise will greatly contribute toward expanding our product offerings. The synergies of staff and products will significantly enhance our opportunities to serve our customers and allow us to continue to be the innovative leader in the industry.”
"The combined company will be ideally positioned to capture the growth opportunities created by the rapidly evolving dry ice technology industry,” said Peer Moerk, Chairman of IceTech. “Dry ice cleaning and production customers can look forward to a comprehensive portfolio of dry ice blast cleaning and dry ice production equipment – to address any industry need. We are excited to become part of the Cold Jet team.”
The acquisition agreement was closed on Jan. 13, in Copenhagen, Denmark, having been officially approved by IceTech and Cold Jet’s respective Board of Directors and stakeholders.
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Check out the February 2021 edition of Restoration and Remediation, featuring 7 tips on what you want to get from an M&A deal. Plus, we discuss containment, loss site safety during a pandemic, restoration flashing costs to consider and much more!