CECO Environmental Acquires Kemco Systems, Raises Outlook
Portfolio Pulse from Shivani Kumaresan
CECO Environmental Corp. has completed the acquisition of Kemco Systems Co. LLC, a company specializing in industrial water recycling and energy conservation solutions. The deal expands CECO's North American presence and adds new energy conservation and water recycling solutions. Post-acquisition, CECO has raised its full-year 2023 outlook for revenue and EBITDA. CECO shares are trading higher by 4.38% at $15.01.
September 13, 2023 | 4:32 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
CECO Environmental Corp. has acquired Kemco Systems, expanding its North American presence and product offerings. The company has raised its FY23 revenue and EBITDA outlook, leading to a 4.38% increase in share price.
The acquisition of Kemco Systems allows CECO to expand its presence and product offerings in North America. This strategic move, coupled with the raised FY23 outlook, has positively impacted investor sentiment, leading to a rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100