Montgomeryville, PA, April 24, 2009 – Selas Heat Technology Co. LLC (“Selas”) announced today the acquisition of Pyronics, Inc. and its subsidiaries (“Pyronics”) from its owner. The combined companies have robust synergies that now allow Selas to offer one of the widest range of products of industrial burners, process burners, mixing systems and related combustion accessories and equipment. Selas, also well known for its specialty high temperature ceramics and refractory products will add castable refractory capability through this transaction. “The acquisition of the Pryonics product lines represents a key milestone in the execution of the Selas strategy to offer global combustion customers a World of Combustion Solutions”, says David S. Bovenizer, Chief Executive Officer of Selas and Lionheart Ventures. The combined companies have operations in Pennsylvania and Ohio, USA, Germany, Japan and China.
Since being acquired in 2005 by Lionheart Ventures, Selas has invested millions into production capacity and upgrades, product and applications development and organizational development. Mr. Bovenizer adds, “Driven by our conservative capital structure, we are committed to continue investing in the growth plans of Selas and Pyronics, even in the more challenging current economic environment. We anticipate the opportunity to complement our organic business development initiatives with more acquisitions and welcome such opportunities”.
Pyronics has been serving industry for over 60 years as a supplier of combustion products and services to commercial manufacturers ranging from ferrous and non-ferrous metals, glass, ceramics, plastics, food processing, chemicals, heat treating, powder coating and textiles. The Pyronics line of combustion products consists of mixers, blowers, balanced zero-ratio regulators, valves, air heaters, flame safeguard devices, package burners, nozzle-mix burners and self recuperative burners.
Selas Heat Technology Company LLC has been dedicated to providing quality heat technology solutions since 1896. In that time, Selas has served the advanced thermal processing needs of tens of thousands of customers, providing radiant and low NOx burners, combustion gas mixers, gas blender valves, flame arrestors and blowouts, BTU monitors and controls, flow meters, and much more. Selas delivers heat technology solutions to the glass, fiberglass, steel, non-ferrous metals, chemical, petrochemical, automotive, and plastics industries with the highest quality products, customer service and aftermarket support.
For more information, contact:
Van Mai, Executive Vice President and Marketing Manager
Selas Heat Technology Company LLC
130 Keystone Drive
Montgomeryville, PA 18936