Ductwork fabrication sealing products maker RectorSeal Corp. has purchased three HVAC market brands from an Australian company. Terms were not disclosed.
Houston-based RectorSeal has bought Polyslab, Evo-Crete and related HVAC brands from Evolve Composites Pty. Ltd.
“The Evolve transaction is another example of RectorSeal’s demonstrated ability to identify and execute accretive, strategic acquisitions,” said Joseph B. Armes, chairman and chief executive officer of Capital Southwest Corp., which has owned RectorSeal since 1967.
RectorSeal President David Smith said the acquisition is good move for his HVAC sales company.
“We view this transaction as an opportunity to expand the breadth of RectorSeal’s HVACR offerings and establish a local presence to more effectively address the Australian market with RectorSeal’s complete product line,” he said.