LOVELAND, Ohio—Cold Jet L.L.C. has brought new overseas business opportunities with the planned acquisition of Aquila Triventek A/S and its dry ice product line.
The Denmark-based Aquila Triventek, which develops processes to produce and clean dry ice and equipment for CO2 recovery systems, and Cold Jet signed a letter of intent for the acquisition Sept. 22.
The purchase should be finalized later this year, according to Cold Jet. Terms of the acquisition were not disclosed.
"This acquisition, at its core, will integrate dry ice technologies, innovations and staff from Triventek with the Cold Jet family and product portfolio," said Eugene Cooke, president and CEO of Cold Jet.
The addition of Aquila Triventek adds new parts of Europe, Scandinavia, the South Pacific region, Japan, South Africa, Brazil, Canada and Australia to Cold Jet's global footprint, which already includes separate parts of Europe, Asia, Canada and Mexico.
Cold Jet is expected to retain all of Triventek's employees, and the Danish company's established customer base will assist the Ohio-based Cold Jet.
"Triventek's advanced CO2 recovery systems made this opportunity especially unique in our effort to build a more sustainable carbon footprint for dry ice production," said Dennis Hjort, senior vice president at Cold Jet.
Specifically, Triventek, which maintains a similar, shared view of the importance of sustainability as Cold Jet, brings small-volume pelletizers and CO2 recovery units to Cold Jet's offerings, adding "greater efficiencies with their dry ice operations."
"The technology within the CO2 recovery system from Triventek will enable our customers to effectively double the output of solid CO2 (dry ice) with the same input volume of liquid CO2, therefore driving much more efficiency and sustainability in all aspects of their operations with dry ice manufacturing solutions from Cold Jet," Cooke said.
Cold Jet provides environmental cleaning, surface preparation and parts finishing systems to global manufacturing industries. The company also produces systems for the production, metering and packaging of dry ice.
Aquila Triventek is headquartered in Norre Aaby on Funen in Denmark.
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