VAST Industrial Corp. and shareholders of The Whalen Company have announced the acquisition of The Whalen Company by VAST. Whalen shareholders will remain owners of Cold Point Corporation.
VAST Industrial Corp. is a privately held Canadian holding company that owns and operates manufacturing companies in a variety of industries, including Unilux HVAC Industries Inc., which operates in the same markets as Whalen. VAST is a long-term investor focused on growing manufacturing companies through product innovation, continuous improvement and strategic investments.
“We welcome the Whalen team as they join VAST and look forward to the opportunity to work with them to continue The Whalen Company's great tradition as a manufacturer of high-quality products and flexible designs for the high-rise HVAC market in North America,” said Mark Heisz, CEO of VAST Industrial Corp Canada to serve the North American market.
Craig Wanner, Whalen's former CEO and shareholder, will be assisting with the ownership transition and had this to say:
“In VAST, we have found the perfect partner to continue Whalen's legacy and ensure continued employment for the Whalen team. I truly appreciate the cooperation and integrity that Mark and Alex have shown in this transaction. It is easy to see why Unilux has shown incredible growth under VAST's leadership. I am very confident that this will happen when these two great brands come together.”
Alex Heisz, Director of Vast, will assume the role of President of Whalen and lead the Whalen team, working closely with Dennis Kloster, COO. Alex commented:
“The acquisition of The Whalen Company is an exciting opportunity to bring together two of the leading brands in North America's high-rise HVAC space. We look forward to working with the Whalen team to build on the unique strengths of both companies and provide even greater value to our customers and partners.”
Toronto skyline, image by UrbanToronto Forum contributor Skyscraper
About The Whalen Company
The Whalen Company was founded in 1962 and is based in Easton, Maryland. The founders of the vertical stack concept, Whalen fan coil units and water heat pumps operate throughout North America with an installed base of over 750,000 units. Quality, flexibility and integrity are the values that Whalen has offered its customers since 1962.
About Unilux HVAC Industries Inc.
Unilux HVAC Industries Inc. was founded in 1972 as a vertical fan coil manufacturer and produced integrated HVAC equipment for the construction of new high-rise buildings in the Greater Toronto Area. Unilux introduced the first vertical stacking unit with integrated ERV/HRV on the market in 2007 and was acquired by VAST in 2013. Under VAST ownership, Unilux has expanded geographically throughout Canada and the United States, adding retrofit fan coil units and water heat pumps to its product line. Unilux has grown successfully through a customer-focused, service-oriented strategy.
Inquiries regarding acquisition can be directed to your Whalen or Unilux sales representative.
Mark Heisz, CEO
VAST Industrial Corp.
Website: https://vastindustrialcorp.com