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Zehnder Group Acquires Vancouver-based Energy Recovery Tech Company dPoint Technologies Inc.
Wednesday, December 2, 2015Company Profile | Follow Company
Vancouver, BC, December 2, 2015--(T-Net)--Zehnder Group, an international provider of solutions for a comfortable, healthy and energy-efficient indoor climate, reported today that it is acquiring Vancouver-based energy recovery tech company dPoint Technologies Inc.
dPoint Technologies Inc. is a leader in the development and manufacture of polymer membranes for enthalpy recovery systems.
Zehnder Group is increasing its share in dPoint Technologies Inc. (dPoint) from 33% to 100%. The purchase of the remaining 67% will partly be paid in Zehnder Group shares, which were acquired in October 2015 as part of a public share repurchase.
The company will operate as a wholly owned subsidiary with the established team led by local CEO and company founder James Dean, who will continue to be responsible for the management and further development of the company within Zehnder Group.
"Investing in dPoint represents an important strategic step in the evolution of Zehnder Group into a leading global supplier in the hygienic enthalpy recovery sector - recovering the heat and humidity from the indoor air", explains Dominik Berchtold, CEO of Zehnder Group.
dPoint specialises in the development and manufacture of membranes for enthalpy recovery systems and is a global market leader in this field. The membrane is the centrepiece of systems which transfer both heat and humidity, thereby significantly increasing both the comfort and energy efficiency of buildings.
dPoint was founded in 2004 and employs approximately 40 people. Since 2010, it has manufactured and sold a total area of around 2 million m 2 of its polymer membranes.
Its key customers are manufacturers in the business areas of heating, ventilation and air conditioning (HVAC) in North America, Europe and China. On top of this, dPoint produces complete enthalpy exchangers and sells these to the leading HVAC companies in North America.
For the past several years, dPoint has also supplied membranes to Zehnder Group.
dPoint is preparing for another growth phase and will invest in new products, production facilities and growing its market presence. This growth is driven by the increasing demand for indoor comfort solutions in commercial and residential buildings.
At the same time, dPoint will continue to supply membranes and enthalpy exchangers to companies outside of the Zehnder Group.
"We will continue our partnerships with the customers who have contributed towards the strong growth of dPoint and see that the acquisition by the Zehnder Group will put us in an even stronger position to supply them with high-performing technology and help us achieve our vision of becoming the leading global supplier of energy recovery components," states James Dean, CEO of dPoint.
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Editor's Note: The acquisition has also resulted in a $1.03 million exit by cleantech investment firm Timia Capital (TSX VENTURE:TCA) - formerly Green Angel Energy, who have sold their position in dPoint as part of the acquisition. Based upon TIMIA's original investment of CDN$350,000, this represents a gain of $681,561 and a 2.95X cash-on-cash multiple on its investment.
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Contact
René Grieder Member of the Group Executive Committee, CFO Zehnder Group AG, 5722 Gränichen, Switzerland Tel. +41 62 855 15 17; rene.grieder@zehndergroup.com
For this and further information about Zehnder Group, please visit www.zehndergroup.com.
About dPoint
dPoint develops and sells Energy Recovery Ventilator (ERV) products that improve the energy efficiency and indoor air quality of building HVAC systems.dPoint is supplying its membranes, ERV exchangers and production machines to the leading global HVAC companies in North America, Europe and Asia.
In 2005 dPoint Technologies began its journey into the world of heat and humidity exchangers when its Founder and CEO, James Dean, saw an opportunity to license a superior membrane humidifier technology. After a comprehensive market and technology assessment in 2006, dPoint expanded its vision and product line to develop and apply this unique technology to manufacture Energy Recovery Ventilator (ERV) Cores for the HVAC industry.
Today, dPoint is a recognized global leader in R&D and manufacturing of membranes and heat and humidity exchangers for energy recovery in buildings. The company has an innovative team of material scientists, mechanical engineers and manufacturing experts who come from respected high tech firms. Together they develop and supply the world with superior membrane materials and energy recovery products to improve lives and conserve energy.
About Zehnder Group
Zehnder Group provides everything you need to create a comfortable, healthy and energyefficient indoor climate. Zehnder Group develops, produces and markets radiators, ceiling-mounted heating & cooling systems as well as ventilation and air cleaning systems. Products and systems are sold under various popular brand names. Zehnder Group is among the market leaders in its business areas. Its most important sales region is Europe. In addition, Zehnder Group operates in China and North America. Its products are manufactured in modern factories in Europe and abroad. Zehnder Group employs approximately 3,100 people worldwide. The company's registered shares A (Valor 27 653 461) are listed on the SIX Swiss Exchange. The unlisted registered shares B are held by members of the Zehnder family and persons closely associated with them.
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CORE Energy Recovery Solutions Inc.
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