The acquisition is expected to drive growth between Kraus and Swift through cross-selling synergies, international expansion, and sharing of best practices
Image: ComTech Energy expands market reach by acquiring Kraus Global. Photo: courtesy of rawpixel from Pixabay.
The developer of compressed natural gas (CNG) fuelling infrastructure in Canada, ComTech Energy (“ComTech”) announced the acquisition of controlling interest in Kraus Global (“Kraus”), an international leading provider of alternative fuels dispensers for the global transportation market. This announcement comes shortly after ComTech’s recent launch of Swift Fuel Solutions (“Swift”), a new alternative fuel solutions brand focused on solving fuelling infrastructure challenges for heavy-duty trucks through innovation.
The acquisition is expected to drive growth between Kraus and Swift through cross-selling synergies, international expansion, and sharing of best practices. In addition, the acquisition will provide an expanded product offering for customers of both companies and together, will become the solution of choice for transportation fleets, infrastructure developers and other stakeholders in the alternative fuel industry.
“This acquisition positions ComTech strategically in the growing alternative fuels industry worldwide” said James Ro, President of ComTech Energy. “Kraus has engineered and developed innovations in CNG, hydrogen and electric dispensing systems, electronic registers (Micon) and automatic temperature compensation systems that have helped shape the alternative fuels industry over the last 30 years. Collectively, we will aim to accelerate the transition towards a lower carbon economy”. This transaction will create a turn-key alternative fuels infrastructure integrator focused on customer needs. “We plan to use this business combination to immediately leverage the identified synergies, grow both companies quickly and provide a high level of customer service”.
To ensure a smooth transition, ComTech’s VP of Engineering and Manufacturing, Chris Damiani, will oversee the daily operations as Chief Operating Officer for Kraus. Chris brings more than 15 years of CNG industry, engineering and manufacturing experience, including 9 years at Kraus between 2001 and 2010. Additionally, ComTech’s VP of Sales & Marketing, Marie-Geneviève Poitras, will oversee the sales & marketing functions at Kraus. Marie brings nearly 20 years of industry experience in CNG, RNG and biogas in North America and overseas, including Asia and the Middle East.
Transaction Highlights:
Utilize Kraus’ cost-effective manufacturing and supply chain to drive margin expansion and growth
Leverage Kraus’ proprietary technology in dispensing and metering in alternative fuels
Benefit from ComTech’s leadership team, strategic vision and first-class customer service
Expand into Kraus’ other alternative fuel markets such as hydrogen and electrification
Benefit from ComTech’s understanding of the transportation sector and fuelling infrastructure
Leverage Kraus’ international sales and distribution networks
Utilize Kraus’ proprietary transportation fuel management software platform
Take advantage of Kraus’s 30 years of experience in manufacturing and regulation, codes and standards worldwide
Leverage Swift’s product development pipeline and utilize Kraus’ manufacturing capabilities
Benefit from ComTech’s in-house expertise in construction, mechanical and electrical
Leverage ComTech’s centralized corporate infrastructure (sales & marketing, H/R, payroll, IT and finance)
Source: Company Press Release