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[May 2005]
Selas Corp of America Assets Purchased
Industrial Heating (www.industrialheating.com) reports that substantially all of the assets of the Heat Technology business of Selas Corp of America - including the subsidiaries Selas Waermetechnik and Nippon-Sales Co Ltd - with all intellectual property and trademarks have been purchased.
Lionheart Ventures, a private equity firm in Stamford, CT, USA, established a new Delaware LLC to buy the assets and the foreign subsidiaries.
Selas Corp was required to change its name as part of the deal and did so - to Intricon.
The newly established heat technology division - Selas Heat Technology Co LLC - is based in Dresher, PA, USA and manufactures ultra-low NOx wall and floor burners, fuel blending systems, combustion control systems, heat processing furnaces and alternative energy applications, in particular landfill gas systems.
www.selas.com
ENDS