Cold Jet (Loveland, OH), an innovator in dry-ice cleaning technologies for an array of industries, has announced completion of the acquisition of Denmark-based IceTech, a manufacturer of dry-ice blasting and production equipment.
In 2015, both companies launched improved dry-ice blasting product lines and strengthened their global reach through 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, said Cold Jet in a news release. The companies' collective global facilities in the United States, Canada, Mexico, Denmark, Germany, Poland, Belgium, Spain, Japan and China will enable 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 acquisition agreement was closed on Jan. 13, 2016, in Copenhagen, Denmark, having been officially approved by IceTech and Cold Jet's respective Board of Directors and stakeholders.
Dry-ice technology is described by Cold Jet as an environmentally responsible cleaning solution that helps companies reduce maintenance costs, enhance product quality, prolong equipment life and improve productivity and worker safety. The use of recycled carbon dioxide eliminates the need for chemicals and water in the cleaning process.