Hoerbiger, a global provider of components and systems for the oil, gas & process industries, the automotive industry, and the mechanical and plant engineering field, has recently acquired IEP Technologies (IEP). IEP operates internationally through locations in the United States, Germany, Switzerland, France, Turkey, and the United Kingdom, and is a leading provider of explosion protection systems and services. The company specializes in explosion protection and check valves for oil, gas, carbon black and dust applications in the mechanical and plant engineering industry. Hoerbiger acquired IEP from Sentinel Capital Partners, a private equity firm that created the company through a complex carve-out of the industrial explosion protection businesses of UTC Climate, Controls & Security, a unit of United Technologies Corp.
“The acquisition of IEP Technologies is an excellent investment for our company to strategically strengthen our business model and expand our portfolio,” commented Dr. Martin Komischke, CEO and Chairman of the Executive Board of Hoerbiger Holding AG. “We feel that safety and explosion protection technology hold outstanding development potential. The innovative strength and knowledge of IEP Technologies will allow us to tap valuable synergies for our core business and core competencies. At the same time, we will strengthen our leading role as a developer and global provider of performance-defining, and increasingly safety-defining, components and services for the oil, gas, and process industries, the automotive industry, and mechanical and plant engineering field.”