Enertech Global Acquires GeoSystems Assets
GREENVILLE, Ill. — Enertech Global recently acquired the assets and intellectual property of GeoSystems, LLC from Research Products Corporation of Wisconsin. GeoSystems is the manufacturer of ECONAR, GeoSource, and HydroHeat geothermal products. Enertech Global will manufacture and sell these product lines through GeoSystems' current marketing channels of dealers and distributors throughout the country, the company announced.
"We are thrilled about the opportunity this acquisition represents for both Enertech Global and GeoSystems," said Steve Smith, President of Enertech Global in a company statement. "In looking at our goals as a company, this move makes sense for us with some of the technology that they are currently utilizing as well as their existing dealer network. It's a great way to improve our own product line and grow our company at the same time."
Enertech Global added that the company is in the process of moving production of these three product lines to its state-of-the-art manufacturing facility in Mitchell, South Dakota. Along with certain pieces of equipment, Enertech is also relocating key personnel to its facility in Mitchell as well as their corporate offices in Greenville, Illinois.
"This acquisition is part of a larger strategy at Enertech Global to strengthen our bottom line, continue in our pursuit of producing the highest quality geothermal units on the market today, and grow our business in areas that were previously not available to us," said Bradley Lanter, Chief Financial Officer at Enertech Global.
With an aggressive timeline in place, delays in meeting and exceeding customer expectations are not anticipated. Limited production began in Mitchell the week of November 5, and full production began the week of November 12. With the closing of this sale, Enertech Global is now the manufacturer of ECONAR, GeoSource, HydroHeat, GeoComfort, Hydron Module and TETCO geothermal systems.
For additional information, visit enertechgeo.com.