A Coventry-based gas analysis company has been purchased by a US group, with legal advice from Midlands law firm Thursfields Solicitors.
Thursfields’ corporate team, led by director Tim Edwards, advised Peter Cieslak and minority shareholders on the sale for an undisclosed sum of his business Gas Data, and its parent company, Innovational Technologies, to ECOTEC International Holdings.
Gas Data was founded 30 years ago and was acquired by Mr Cieslak, via Innovational Technologies, a holding company, in 2018.
It designs and manufactures a range of industry-leading gas analysers and gas monitoring systems for a variety of industrial applications, including renewable energy, environmental and security, with international presence in more than 50 countries. The company also provides a full range of installation, commissioning and maintenance services.
Gas Data is based at Seven Stars Industrial Estate, Wheler Road, Coventry.
Tim Edwards said: “ECOTEC and Gas Data use similar core technologies and serve complementary markets. As a result, the acquisition represents an opportunity to expand capabilities and extend geographic reach, in addition to furthering the combined portfolio of methane-focused environmental solutions.
“We advised Peter in 2018 on the acquisition of Gas Data and it’s great to see the success he and the team have made of it. I, for one, couldn’t be happier for him and wish him all the best in the next stage of his career with ECOTEC.”
Greg Philp, corporate finance director at HB&O, and director Wayne Gutteridge provided corporate finance and tax advice to Peter Cieslak.
Mr Philp said: “It was fantastic to have been able to support Mr Cieslak and the Gas Data team with this transaction. It’s an extremely exciting opportunity for the whole business.”
Peter Cieslak, chief executive officer of Gas Data, said: “By becoming a part of the ECOTEC Group we will strengthen our respective brands and accelerate our continued growth in both new and existing market segments. I could not be prouder of our talented and dedicated team who will continue to make significant contributions to the new challenges that lie ahead. I look forward to our exciting future, advancing the science behind gas data, together.”
“The Thursfields team delivered a highly professional service to an extremely tight timetable and worked tirelessly to ensure we achieved completion on time. This was done without compromising on attention to detail in the commercial matters.”
ECOTEC Group CEO Tim Novick said the acquisition brings together technology and talent in the form of dedicated Gas Data employees who are joining the ECOTEC Group team.
“We believe this unique opportunity combines two businesses with best-in-class products and customer service operating in overlapping industries, as well as bringing together a team of astoundingly talented and dedicated employees.”
“We are fully committed to the successful future of our expanded organisation,” he said.
ECOTEC Group, designs and develops speciality equipment and software solutions for the natural gas, biogas, renewable natural gas and carbon credits market. Gas Data joins two other leading product brands in Europe; Gazomat in France and AQ Mesh in Stratford-upon-Avon, UK.
Thursfields’ corporate team, led by Tim Edwards, included Reece De-Vaney and Ellie Bryan. Ecotec Group was advised by Monica Macheng of Bevan Brittan with corporate finance and tax advice provided by Chris Wood at Grenfell James Associates.