Orange County, CA, September 30, 2020 –Plethora Businesses, an M&A advisory firm headquartered in Orange, CA, is pleased to announce that Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a publicly traded global provider of clean energy solutions, entered into an agreement on August 31, 2020, to acquire all of the outstanding securities of Applied Compression Systems Ltd. (“ACS”). Plethora served again as Buy-side advisor for Xebec on this transaction.
The acquisition of ACS expands Xebec’s Cleantech coverage to now include British Columbia. ACS has existing experience and customer relationships for servicing renewable gas installations. Xebec anticipates that the ACS addition and Plethora’s continued role will each play a part in achieving their growth strategy.
“ACS is both a customer and supplier and has unique capabilities to design and build compressed air & gas systems. This acquisition will strengthen our Industrial product portfolio as a compressor integrator while simultaneously increasing our service presence in Western Canada,” says Dr. Prabhu Rao, Chief Operating Officer, Xebec Adsorption Inc.
“We’re excited to play a part in Xebec’s growth strategy and look forward to their continued success,” said Nick Lanza, Vice President and Buy-side Director of Plethora Businesses.
The ACS acquisition is the second Xebec transaction Plethora has been a part of following the acquisition of CDA Systems in December 2019.
About Plethora Businesses: Plethora Businesses is a boutique M&A Advisory firm, providing sell-side and buy-side M&A, corporate strategy, valuations and consulting services to middle market businesses. For more information, email firstname.lastname@example.org or call 714-255-8862.
Vice President & Buy-side Director