INNOVA Global Ltd. has acquired the shares of the multinational gas turbine auxiliary equipment specialist Braden from Global Power Equipment Group.
The acquisition includes Braden Manufacturing LLC (BUSA) in Tulsa, Consolidated Fabricators (CFI) in Auburn, Massachusetts and Braden-Europe (BEUR) located in Heerlen, the Netherlands.
The acquisition allows INNOVA to expand its global reach with added market presence in North, Central and South America, as well as Europe, the Middle East, North Africa, China and Australasia.
Formerly ATCO Emissions Management, INNOVA has developed a suite of specialized solutions involving air and noise emissions control, acoustic consulting, gas turbine auxiliary systems, heat recovery systems, oil and gas facilities and turnkey buildings.
The combination of INNOVA and Braden brings together strong project experience and the product offering of two global leaders in their fields, Harry Wong, INNOVA's president and chief executive officer, said in a statement. "Importantly, the clients of the combined entity will benefit greatly from the breadth of prequalified product designs and solutions to service its clients worldwide.”
Braden has a unique gas turbine aftermarket retrofit and parts business, which offer clients the option of upgrading and improving auxiliary equipment requiring repairs or replacement—from filter houses to exhaust silencers and stacks, diverter dampers and a line of in-duct products. "This aftermarket and retrofit operation will add a new dimension to INNOVA's product and service offering which we plan to support with our in-house construction group and grow into a much larger business," Wong said.
"We look forward to strengthening our operations through extension of the technical capabilities, global supply chain, and expansion of product offerings through the combined INNOVA-Braden team," Wong added. "Similarly, we also plan to work with the strong CFI team to strengthen its product offering to existing clients and to manufacture some of their current specialized parts."
The Braden transaction follows INNOVA's acquisition earlier this year of the liquidated intellectual property assets of Express Integrated Technologies, a leader in selective catalytic reduction systems and once through steam generators.