Tutco announced today that it has acquired the assets of the Heating Element Division of Fast Heat, Inc. in Elmhurst, IL. Fast Heat manufactures a wide range of specialty heating elements for HVAC, industrial, and medical applications.
Commenting on the acquisition, Pat McCaffrey, President, Tutco said; “This acquisition expands our core technology beyond open-coil heating, introduces Tutco to new markets, and brings a talented and motivated team into our group. We are excited about the new opportunities Fast Heat brings to Tutco.”
“While heating elements continue to be a good business, Fast Heat’s strategy is to move more aggressively into new technology based product lines such as RFID. The divesture of our heating element product line in North America will give us the capital and management time to focus on these new opportunities.” “We are constantly looking for ways to penetrate new emerging technology markets to grow our business and leverage our brand name globally,” said Tim Stojka, CEO, Fast Heat.
Tedd Smith, CEO of Flex-Tek added: “Fast Heat is an example of the niche, highly engineered products that are the hallmark of the Flex-Tek Group. We anticipate the integration of Fast Heat with Tutco to be smooth and provide a benefit to all. We are pleased to welcome Fast Heat to Flex-Tek.”
Fast Heat
Fast Heat, Inc. is a leading international supplier of custom-engineered systems and components for the precise transfer and control of heat. Founded in 1957 as a manufacturer of heating elements, Fast Heat manufacturers hot runner systems and temperature controllers at facilities in the U.S., UK, France, and Singapore. For more information please visit: www.fastheat.com
Tutco
Tutco is a leader in heating innovation. It designs and manufactures heating components for a variety of commercial applications including: refrigeration, HVAC and laboratory equipment. For more information please visit: www.tutco.com
Flex-Tek
Flex-Tek designs and manufactures engineered components which heat and move fluids and gases for aerospace, housing, domestic appliances and medical devices. For more information please visit: www.flextekgroup.com
