TriWest’s Innova Global acquires IP assets of EIT

Innova Global Limited, a portfolio company of TriWest Capital Partners, has acquired key liquidated intellectual property assets of its commercial rival Express Integrated Technologies (EIT).

Express Integrated Technologies (EIT) was one of four affiliated operating divisions of Express Group Holdings LLC. Express Group Holdings and its affiliates filed for Chapter 7 protection in the Oklahoma Bankruptcy Court in early November 2016.

Innova Global was selected as the successful bidder for EIT’s intellectual property assets, work in progress for a major project, and operating assets of the St. George Steel and Murray manufacturing facilities in Utah at an auction in the Oklahoma Bankruptcy Court in late January.

Express Integrated Technologies was established in 1979 and grew to become a recognized industry leader in the design and manufacture of heat transfer, combustion and environmental compliance-engineered equipment for the power and industrial markets.

EIT had been a competitor in emissions control using Selective Catalytic Reduction technology and also competed with Innova in the supply of a variety of other products.

Founded in 1991, Innova Global, formerly ATCO Emissions Management, is a full service engineering, procurement, manufacturing and construction company specializing in air and noise emissions control, acoustic consulting, heat recovery, and equipment and infrastructure solutions primarily for the power generation, industrial, and oil & gas industries.

TriWest acquired ATCO Emissions Management from ATCO Ltd. (TSX: ACO) in December 2015 for $##subscriber ONLY content## million.

photo credit: Innova Global

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.