2016-01-14 - Cold Jet Announces Acquisition of IceTech
Synergies of products and staff will enhance opportunity to serve global customers
(Loveland, OH – January 14, 2016). 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 January 13, 2016, in Copenhagen, Denmark, having been officially approved by IceTech and Cold Jet’s respective Board of Directors and stakeholders.
About Cold Jet
With 30 years of experience, Cold Jet® is the world leader in developing innovative, environmentally responsible cleaning solutions that help companies reduce maintenance costs, enhance product quality, prolong equipment life and improve productivity and worker safety. Cold Jet dry ice cleaning systems are used in a variety of industries and applications, making productive use of recycled carbon dioxide while eliminating the need for chemicals and water in the cleaning process. In addition to its dry ice-based cleaning systems, Cold Jet is the leading global provider of high capacity, quality on-site dry ice production equipment – serving both industrial gas and end-user companies around the world – that extrudes the highest density dry ice available. Cold Jet is a private company with global headquarters in Loveland, Ohio and international operations in Europe, Asia, Canada and Mexico. For more information, visit www.coldjet.com or call 1-800-337-9423 or +1 513-831-3211 (International).
IceTech is a leading manufacturer of high performance and reliable dry ice blasting and dry ice production equipment, as well as automated solutions. First founded in 1998 in Denmark, IceTech has continued to affect the industry with a versatile line of dry ice blasting equipment and high performance dry ice production equipment. IceTech has supplied equipment to more than 180 countries around the world, both directly and with their network of 30+ distributors.