Thermax to acquire Danstoker
A manufacturer of biomass-based boilers and waste heat recovery systems, Thermax is to acquire Danish firm Danstoker A/S and its Germany-based subsidiary Omnical Kessel for $42 million (€29.5 million).
Danstoker is another boiler manufacturer and the deal is expected to boost Thermax’s presence within the European renewable energy sector as it aims to source 20% of its total energy from renewables.
With 1,200 installations across Europe, Thermax is a profitable company with annual sales of around $56 million.
Thermax is currently focusing on the global biomass market as this sector is expected to double by 2030.
Danstoker is another boiler manufacturer and the deal is expected to boost Thermax’s presence within the European renewable energy sector as it aims to source 20% of its total energy from renewables.
With 1,200 installations across Europe, Thermax is a profitable company with annual sales of around $56 million.
Thermax is currently focusing on the global biomass market as this sector is expected to double by 2030.
