Solex Thermal Science Inc acquires Econotherm

Solex Thermal Science Inc acquires Econotherm

Solex Thermal Science Inc, a Canadian-headquartered expert in thermal and bulk materials engineering, has acquired South Wales based Econotherm Ltd, in a deal advised on by multi-discipline M&A experts GS Verde Group.

The acquisition further expands Solex's capacity to help its customers reduce the primary energy consumed to produce industrial goods. The company has deep expertise in solids, liquids and gas heat exchange, and Econotherm's solutions are welcome additions to the suite of products Solex offers.

"We at Solex are passionate about working with customers to understand their operational needs. Today's announcement broadens our overall business portfolio to provide our global client base with an even deeper suite of best-in-class, sustainable solutions that align with their respective environmental, social and governance strategies," says Lowy Gunnewiek, Chief Executive Officer for Solex.

Econotherm, a South Wales based specialist manufacturer, is a recognised leader in providing sustainable manufacturing solutions. The company focuses on difficult-to-recover heat that includes hot and/or dirty exhausts in industries such as automotive, metals, construction, food, mining, oil and gas, power generation and pharmaceutical. Installed solutions include many "firsts of its kind" which have achieved successful energy savings in applications otherwise considered unsuitable for conventional equipment.

Econotherm is also at the forefront of heat pipe research and development, having been recognized with green technology awards from Shell Oil and LLGA City Smart for its leading-edge developments. Econotherm has participated in a number of international EU- and UK-funded research and development projects where its deep expertise in heat pipes has contributed to new developments for industrial waste heat recovery solutions.

"Solex's commitment to making a sustainable impact within the industries it operates aligns with our company's trajectory of being a world-leader in today's circular economy. Having the support of Solex will allow us to expand the reach of our patented heat recovery solutions and create a positive impact in the world around us," says Mark Boocock, owner at Econotherm.

GS Verde's multidiscipline team was delighted to support Econotherm throughout the transaction.

Source: Solex Thermal Science Inc. acquires Econotherm Ltd. (

The GS Verde Group are business-focused experts in getting deals done. Combining all the services needed to complete a corporate transaction, including legal, corporate finance, tax, accountancy and even communications, GS Verde acts as a complete advisory team and provides a truly end-to-end service.

GS Verde works on all manner of international transactions and is part of the Oracle Global M&A Network.
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