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Red Dot agrees to acquire JBAR A/C
Posted By Tina Grady Barbaccia On August 15, 2011 @ 4:37 pm In Industry,Press Releases | No Comments
Red Dot Corp., a global supplier of heating and air conditioning systems, components, and aftermarket parts for heavy-duty vehicles and equipment, announced it has reached an agreement to acquire JBAR A/C Inc. of Valley View, Ohio, near Cleveland. Financial terms were not disclosed.
JBAR designs and manufactures heaters and air conditioning systems for vehicles used in construction, materials handling, and other heavy-duty applications. The company will operate as a subsidiary of Red Dot, retaining the JBAR brand, management team, and employees.
Red Dot plans to invest in additional production capacity in the Cleveland area to allow JBAR to meet the growing needs of its customers.
“This acquisition strengthens our manufacturing and distribution presence in the Eastern U.S. and Canada and expands our family of HVAC unit kits,” said Randy Gardiner, president, CEO and chairman of Red Dot. “With its focus on heavy-duty markets and reputation for quality and engineering, JBAR is a perfect complement for Red Dot.”
Mike Pease, president of JBAR, added: “This is an exciting opportunity for JBAR. As a Red Dot company, JBAR will be able to provide the manufacturing, customer support, distribution, and engineering resources our customers expect.”
Pease will join Red Dot’s senior management team and be responsible for JBAR’s day-to-day operations. The agreement is scheduled to close on Sept. 1, 2011.
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