Hoerbiger Group will acquire the internationally renowned explosion protection specialist IEP Technologies, LLC based in Marlborough, Massachusetts, USA, from Sentinel Capital Partners. This acquisition will make Hoerbiger one of the world's leading providers of sophisticated safety and explosion protection technology for a broad range of industrial plant engineering applications. The parties agreed to keep the purchase price confidential.
Hoerbiger - headquartered in Zug, Switzerland - is a worldwide leading provider of performance-defining components and systems for the oil, gas, and process industries, the automotive industry, and the mechanical and plant engineering field.
Safety and explosion protection are attractive growth markets with large potential which ideally complement Hoerbiger's core business. Even today, the Group offers a wide range of safety-related products and services. For decades, Hoerbiger has been an innovation and technology leader for explosion protection and check valves for oil, gas, carbon black and dust applications in the mechanical and plant engineering industry.
IEP Technologies operates internationally through locations in Marlborough in the United States, Ratingen in Germany, Olten in Switzerland, Paris in France, Izmir in Turkey, and Cheltenham in the United Kingdom and is a leading provider of explosion protection systems and services. The company is in particular market leader for explosion mitigation systems in process plants. An unrivaled global service network ensures that explosion protection equipment is always operational and effective.
Hoerbiger is acquiring IEP Technologies from Sentinel Capital Partners, a private equity firm that created the company through a complex carve-out of the industrial explosion protection businesses of UTC Climate, Controls & Security, a unit of United Technologies Corp.. Under Sentinel's ownership, IEP Technologies' four legacy brands, each operating in its own geographic market, were combined to form a unified, global leader in the industrial explosion protection industry. Previously, the investment firm had effectively strengthened the core competencies of IEP Technologies. Authorities and other institutions engaged in safety and explosion protection also draw on IEP Technologies' subject matter expertise and know-how in the development of national and international standards.
