TORONTO, Aug. 22, 2019 /PRNewswire/ - The leading developer of compressed natural gas (CNG) fuelling infrastructure in Canada, ComTech Energy ("ComTech"), is pleased to announce the acquisition of controlling interest in Kraus Global Ltd. ("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:
About ComTech Energy
Headquartered in Toronto (ON), ComTech designs/build/maintains CNG fuelling infrastructure across Canada and has an in-house team of engineers, project managers, gas fitters, electricians and certified service technicians whose primary focus is customer satisfaction. ComTech has a 25,000 square foot "innovation centre" dedicated to launching new product solutions that are not available in the marketplace, under the "Swift Fuel Solutions" brand. For more information, please go to www.comtechenergy.ca.
About Kraus Global
Headquartered in Winnipeg (MB), Kraus is focused on the design and manufacturing of world-class dispensers, components and electronics for various types of alternative fuels. More than 6,000 Kraus dispensers have been installed in over 30 countries around the world. Kraus has a 45,000 square foot manufacturing space and is an ISO 9001:2015 registered facility capable of producing over 2,000 dispensers per year. For more information, please go to www.krausglobal.com.
SOURCE ComTech Energy
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