Next step in Xebec’s acquisition strategy to provide North American service for its Cleantech Systems and Installations
MONTREAL, QC, December 10th, 2019 – Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF) (“Xebec”), a global provider of clean energy solutions is pleased to announce that Xebec Holding USA Inc, a wholly-owned subsidiary of Xebec Adsorption Inc., has entered into an agreement and effective December 10th, 2019, to acquire through a cash purchase all of the outstanding securities of CDA Systems LLC (“CDA”). CDA’s principals will remain with CDA after the acquisition to optimize their integration into Xebec’s industrial service and grow the business over the coming years.
CDA Systems is a leading distributor and service provider of Oil-Free Air Compressors, Air Dryers, and Filtration Systems in California’s San Francisco Bay Area. CDA designs, sells, rents, and maintains Clean Dry Air systems and, with decades of industry experience under their belt, have supported major manufacturers with numerous equipment installations. These have included value engineered solutions supporting compression, dehydration, CNG, and other specialty gases, with a goal of achieving energy cost savings and utility rebates.
This acquisition follows on the recent news that Xebec has signed a Letter of Intent with Maas Energy Works to provide four small-scale, containerized biogas upgrading units in California. These BiostreamTM units will support the production of renewable natural gas from biogas streams generated from animal waste on small dairy farms located throughout California.
“The CDA purchase continues Xebec’s strategic journey to provide local, customer-centric service, support and operations capabilities for our cleantech and renewable gas segment. This is a critical component to our value proposition, and a key advantage to choosing Xebec for biogas upgrading projects. To be worry-free is important to customers and knowing that experienced local service and support is available delivers that peace of mind.”
– Kurt Sorschak, President and CEO, Xebec Adsorption Inc.
Xebec’s industrial service and products segment has long been a solid contributor to the overall growth and profitability of the company, generating a significant amount of recurring revenue through the sale of parts and services. With the addition of Service Centers throughout North America, Xebec aims to become the leading renewable gas systems service and support provider, offering the unique service advantage of local support for nation-wide biogas to renewable natural gas projects.
For more information:
Brandon Chow, Investor Relations Specialist, Xebec Adsorption Inc
About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. Xebec has two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe and Asia. Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company, its products and services, visit Xebec at xebecinc.com.
About CDA Systems LLC
CDA Systems is a leading distributor of Oil-Free Air Compressors, Air Dryers, and Filtration Systems in the California’s San Francisco Bay Area. They design, sell, rent, and maintain Clean Dry Air systems as well as Process Vacuum, POU Filtration, and Instrumentation & Automation related to critical air processes. The Industry sectors served include Pharmaceutical, Microelectronics, Refinery, Food & Beverage, R&D and Manufacturing.
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