Hoerbiger Acquires IEP TechnologiesHoerbiger Acquires IEP Technologies
September 1, 2015
Hoerbiger, which provides components and systems for the oil, gas, and process industries, and more, is purchasing IEP from Sentinel Capital Partners, a private equity firm that created IEP. The purchase price was not disclosed..
The acquisition is expected to allow Hoerbiger to continue the company’s interests in safety and explosion protection technology for a broad range of industrial plant engineering applications. Hoerbiger already provides a range of safety-related products and services and safety and explosion protection is expected to continue to grow as a market.
IEP Technologies is based in Marlborough, MA, but operates in Germany, Switzerland, France, Turkey, and the U.K. IEP Technologies has more than 50 years of experience in safety and explosion protection technology.
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"The acquisition of IEP Technologies is an excellent investment for Hoerbiger to strategically strengthen our business model and expand our portfolio," said Dr. Martin Komischke, CEO and chairman of the executive board of Hoerbiger Holding AG. "We feel that safety and explosion protection technology hold outstanding development potential. The innovative strength and knowledge of IEP Technologies will allow us to tap valuable synergies for our core business and core competencies. At the same time, we will strengthen HOERBIGER's leading role as a developer and global provider of performance-defining, and increasingly safety-defining, components and services for the oil, gas, and process industries, the automotive industry, and mechanical and plant engineering field."
"Sentinel was an excellent partner for IEP and its support has positioned our company for the next phase of growth", said Randy Davis, CEO of IEP Technologies. "Under the umbrella of the Hoerbiger Group, which over the course of decades has acquired an outstanding reputation as an innovation and technology leader in the oil, gas, and process industries as well as the mechanical and plant engineering field, we will have exceptional opportunities to advance our successful growth strategy long-term. We are proud to join the Hoerbiger team and become the Hoerbiger Safety Solutions company. Together we will significantly enhance our position as a global market leader in industrial explosion protection. With our advanced technology, we protect our customer’s employees, facilities and the environment from the devastating effects of industrial explosions."
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