Logistec Corp., a diversified cargo handler in eastern Canadian and U.S. ports, as well as an environmental service provider whose services include PCB management, site remediation and trenchless structural rehabilitation of watermains, announced Oct. 30 that it has acquired, via its subsidiary Sanexen Environmental Services Inc., the Niedner business for cash consideration of US$13.4 million.
For the past 10 years, Niedner, a leading North American fire-hose manufacturer, has been the exclusive supplier to Sanexen of one crucial component of Aqua-Pipe, the structural lining developed by Sanexen used to rehabilitate watermains. Niedner benefits from its capacity to produce large diameter hoses, as well as a research and development team; both being unique in North America.
“For Sanexen, this acquisition is strategic as the watermain rehabilitation market is growing rapidly and production control for the Aqua-Pipe lining was becoming critical,” said Madeleine Paquin, president and CEO of Logistec Corp.
Niedner will become a wholly-owned subsidiary of Sanexen and, with this acquisition, Sanexen pursues its mission to become a leader in the watermain rehabilitation market.
