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CECO Environmental reports strong results for the third quarter and raises full year 2023 guidance for revenue and adjusted EBITDA.
CECO Environmental today announced that on Aug. 23, 2023, it completed the acquisition of Kemco Systems, Co. LLC (Kemco), a Florida-based company that specializes in the design, manufacturing and support of custom-engineered industrial water recycling and energy conservation solutions for North American industrial markets. Following the acquisition, the Company announced it has raised its full-year 2023 outlook for revenue and EBITDA. Kemco, founded in 1969, marks the third acquisition for CECO during 2023, and a continuation of CECO's steady execution of its programmatic M&A strategy. The Kemco acquisition enhances CECO's North American presence, extending the Company's industrial water and wastewater treatment applications reach, adding new energy conservation and water recycling solutions, and expanding the addressable market into new high-value food processing, commercial laundry, and ready-mix concrete customer segments and end markets.
Laurie A. Siegel has joined CECO Environmental's board of directors. In connection with Ms. Siegel's appointment to the Board, the Board also appointed her to the Compensation Committee of the Board. Siegel brings more than 30 years of experience across diversified industrial companies, as well as leading consulting and advisory firms.
CECO Environmental Corp. (Nasdaq: CECO) ("CECO"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, announced on April 3, 2023 it has completed the acquisition of Transcend Solutions, LLC ("Transcend"), a Houston-based process filtration solution design and manufacturing company with applications in hydrocarbon and chemical processing.
CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced that it will report its fourth quarter and full year 2022 financial results on March 6, 2023, premarket. The Company will also host its earnings call starting at 8:30 a.m. Eastern Time (7:30 a.m. CT). More information can be found in the press release.
CECO Environmental Corp. (Nasdaq: CECO) ("CECO"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today announced it expects orders for the fourth quarter of 2022 to exceed $145 million, an increase of at least $55 million, or 60 percent, over the prior-year quarter and $43 million, or 42 percent, on a sequential basis, providing CECO with year-end backlog at or near record levels.
CECO Environmental Corp. (Nasdaq: CECO) ("CECO"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today announced it has completed the acquisition of Wakefield Acoustics, Ltd. ("Wakefield"), a UK-based design and manufacturing firm specializing in advanced industrial, commercial and environmental noise control systems. The addition of Wakefield to CECO's Thermal Acoustics business platform advances CECO's leadership position within the industrial silencing and noise attenuation segment by adding a range of solutions and access to new geographic markets and industrial segments.
CECO Environmental Corp. (Nasdaq: CECE) ("CECO"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, announced it completed the acquisition of DS21 Co., Ltd. (DS21), a South Korean-based design and manufacturing firm specializing in innovative water and wastewater treatment solutions. The DS21 acquisition is the latest in CECO's programmatic M&A program of the past 12 months, which when combined represent more than $30 million in pro-forma annualized revenue. The addition of DS21 to CECO's industrial water portfolio advances CECO's leadership position in niche oily water and produced water treatment, demineralization water treatment and ultra-pure water supply applications within the industrial water market. The acquisition also provides CECO with an operational base in Asia from which to expand regionally.
