08 Mar Tecvalco Acquires Assets From Grit Industries
Posted at 17:42h in Newsroom
Tecvalco Ltd., a Canadian master distributor and manufacturer representative, has purchased key assets from manufacturing company Grit Industries Inc. The two companies have a long history of working together in the sales and promotion of the CWT heater product line.
The innovative CWT heater and the Grit-55 Secondary Containment are the two primary assets acquired. Tecvalco also negotiated access to all equipment and facilities required to manufacture those two lines, effectively moving the distribution company into manufacturing. The company also purchased the rights to manufacture a variety of other products marketed to the energy industry.
Along with the hard assets, Tecvalco gained a wide variety of staff with in-depth knowledge and experience in the industry.
“This was a crucial strategic move on Tecvalco’s part,” noted President Mike Menger. “Our distribution infrastructure is a perfect fit for the manufacturing capabilities of Grit. The opportunity here is incredible.”
Tecvalco is a premier distribution and manufacturing representative organization, with staff across Canada and the United States. Incorporated in 1980, the dynamic company has a history of being integral in the development of the energy industry in Canada. They provide solution-based products to the natural gas distribution industry, municipalities and cities, horizontal directional drilling, utility contractors, and the wholesale industry for construction and utility delivery.
Mr. Menger noted that the Tecvalco team are excited to get to work with the manufacturing division, and are prepared to take the product lines to new heights. Most exciting, he noted, is the chance to expand into new markets.
Tecvalco has signed leases on facilities in both North Battleford, Saskatchewan and Lloydminster, Alberta. The plan for the time being, Mr. Menger noted, is to keep business as usual and carefully integrate the new product lines, facilities, and staff members into the Tecvalco family.