CECO Environmental expands industrial water treatment solutions with acquisition of South Korean water treatment specialist

Oct. 6, 2022
The addition of DS21 to CECO's industrial water portfolio advances CECO's leadership position in niche oily water and produced water treatment, demineralization water treatment and ultra-pure water supply applications within the industrial water market.

DALLAS, Oct. 3, 2022 (PRNewswire) — CECO Environmental Corp., a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today announced it has completed the acquisition of DS21 Co., Ltd. (DS21), a South Korean-based design and manufacturing firm specializing in innovative water and wastewater treatment solutions.

The DS21 acquisition is the latest in CECO's programmatic M&A program of the past 12 months. The addition of DS21 to CECO's industrial water portfolio advances CECO's leadership position in niche oily water and produced water treatment, demineralization water treatment and ultra-pure water supply applications within the industrial water market. The acquisition also provides CECO with an operational base in Asia from which to expand regionally.

"DS21 has significant experience and important customer relationships with respect to innovative solutions for oily water and produced water treatment that serve both the energy and industrial markets, and an emerging position in the applications for energy transition sector," said Todd Gleason, chief executive officer, CECO Environmental. "DS21 is a complementary brand to CECO's water portfolio and will advance our relationships, better positioning CECO for growth with key global customers, including major EPCs, and providing us with a world-class manufacturing and engineering footprint in East Asia."

Added Gleason, "We have known DS21 and members of its leadership team for a number of years as we both serve many of the same end markets in Asia and the Middle East regions. Working together, we're able to leverage CECO's application knowledge and existing solutions with DS21's well-positioned business in East Asia and extend our niche application leadership in the industrial water treatment."

ABOUT CECO ENVIRONMENTAL

CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water and energy transition markets across the globe through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications including power generation, petrochemical processing, general industrial, refining, midstream oil and gas, electric vehicle production, poly silicon fabrication, battery recycling, beverage can, and water/wastewater treatment along with a wide range of other applications. CECO is listed on Nasdaq under the ticker symbol "CECE." Incorporated in 1966, CECO's global headquarters is in Dallas, Texas. For more information, please visit www.cecoenviro.com.

ABOUT DS21

DS21, which previously stood for Developing Separators for 21 Century, is a South Korean design and manufacturing firm that provides innovative solutions for oily wastewater, DM and DI process water, condensate water, storm water/sewage and produced water treatments, serving both the energy and industrial sectors. For more information on the company, please visit http://www.ds21.kr.

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