(GREENVILLE, IL - October 29, 2012) – Enertech Global has acquired the assets and intellectual property of GeoSystems, LLC from Research Products Corporation of Wisconsin. GeoSystems is the manufacturer of ECONAR, GeoSource, and HydroHeat geothermal products. These three product lines will be manufactured and sold by Enertech Global through GeoSystems’ current marketing channels of dealers and distributors throughout the country.
“We are thrilled about the opportunity this acquisition represents for both Enertech Global and GeoSystems.,” commented Steve Smith, President of Enertech Global. “In looking at our goals as a company, this move makes sense for us with some of the technology that they are currently utilizing as well as their existing dealer network. It’s a great way to improve our own product line and grow our company at the same time.”
Enertech Global is in the process of moving production of these three product lines to its state-of-the-art manufacturing facility in Mitchell, South Dakota. Along with certain pieces of equipment, Enertech is also relocating key personnel to its facility in Mitchell as well as their corporate offices in Greenville, Illinois.
“This acquisition is part of a larger strategy at Enertech Global to strengthen our bottom line, continue in our pursuit of producing the highest quality geothermal units on the market today, and grow our business in areas that were previously not available to us,” said Bradley Lanter, Chief Financial Officer at Enertech Global.
With an aggressive timeline in place, Enertech Global does not anticipate any delays in meeting and exceeding customer expectations. Limited production will begin in Mitchell beginning the week of November 5, 2012, with full production starting the following week. With the closing of this sale, Enertech Global is now the manufacturer of ECONAR, GeoSource, HydroHeat, GeoComfort, Hydron Module and TETCO geothermal systems. For more information, visit them online at http://www.enertechgeo.com or follow their story on Twitter @EnertechGlobal.
About Enertech Global
Enertech Global is a leading manufacturer and visionary in the geothermal heating and cooling industry. With corporate headquarters in Greenville, IL, and production facilities in Mitchell, SD, Enertech Global’s award winning products are proudly made in the heart of America and are distributed throughout the United States and Canada. The company’s product lines consist of GeoComfort®, Hydron Module®, TETCO®, ECONAR, GeoSource, and HydroHeatbrands. For more information, visit online at http://www.enertechgeo.com.