WOODBRIDGE, Ontario, Canada — VAST Industrial Corp., which owns and operates manufacturing businesses in a diverse array of industries, has acquired The Whalen Co. of Easton, Maryland.
Based in Ontario, VAST is a long-term investor with a focus on growing manufacturing companies through product innovation, continuous improvement, and strategic investment, a press release from the company said. Whalen, founded in 1962, makes fan coils and water-source heat pumps. Another VAST holding, Unilux HVAC Industries Inc., was founded in 1972 as a vertical stack fan coil manufacturer, producing in-suite HVAC units for new high-rise residential construction to the greater Toronto market.
“We welcome the Whalen team as they join VAST and appreciate the opportunity to work with them to continue the great tradition of The Whalen Company as a manufacturer of superior products and flexible designs for the high-rise HVAC market in North America,” said Mark Heisz, CEO of VAST. “At VAST we have a focus on buying businesses to build on already strong operations through aggressive investment in innovation and market expansion. The acquisition of Whalen, coupled with our ownership of Unilux, provides us with a unique advantage with strong manufacturing operations in USA and Canada to serve the North American market.”
Alex Heisz, director of Vast, will become president of Whalen and will work with COO Dennis Kloster. Craig Wanner, a Whalen shareholder and former president and CEO, will assist with the ownership transition.
“We have found the perfect partner in VAST to continue the Whalen legacy and to secure continued employment for the Whalen team,” said Wanner. “I truly appreciate the willingness to cooperate and integrity that Mark and Alex have shown during this transaction. It’s easy to see why Unilux has demonstrated incredible growth under the leadership of VAST. This is something I am very confident will happen when these two great brands unite.”
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