Mestek Inc.has acquired 100% ownership ofDadanco-Mestek JV, by concluding an agreement to buy the shares previously owned by Dadanco Pty Ltd. Together with the acquisition of remaining interest, all critical Intellectual Property including Dadanco nozzle technology is now owned by Mestek in hopes that the company will maintain Dadanco’s dominant position in providing low energy HVAC solutions, and Mestek’s continued expansion of its Green product portfolio.
Mestek manufactures HVAC, architectural products and metal-forming machinery. Dadanco is a manufacturer of active chilled beams, induction units and induction diffusers with a strong product focus on sustainability. Both companies are based out of Westfield, Mass.
To mark the acquisition of Dadanco-Mestek JV as a wholly owned subsidiary of Mestek Inc., an agreement has been reached for the major refurbishment of offices to house Dadanco, along with new construction of comprehensive demonstration and scenario test facilities, all to be based in Westfield, Mass.
Source: Mestek
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