Acquisition of the Australian interests fuels Mestek’s growth into sustainability.
Mestek Inc. has acquired 100%
ownership of Dadanco-Mestek
JV, by concluding an agreement to buy the shares previously owned by Dadanco Pty Ltd. Together with the
acquisition of remaining interest, all
critical Intellectual Property including Dadanco nozzle technology is now owned by Mestek in hopes that the
company will maintain Dadanco’s dominant
position in providing low energy HVAC solutions, and Mestek’s continued expansion of its Green product portfolio.
Mestek manufactures HVAC, architectural
products and metal-forming machinery. Dadanco
is a manufacturer of active chilled beams, induction units and induction
diffusers with a strong product focus on sustainability. Both companies are
based out of Westfield, Mass.
To mark the
acquisition of Dadanco-Mestek JV as a wholly owned subsidiary
of Mestek Inc., an agreement has
been reached for the major refurbishment of offices to house Dadanco, along with new construction of
comprehensive demonstration and scenario test facilities, all to be based in
Mestek acquires Dadanco-Mestek JV
September 26, 2012