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Shawcor Acquires Triton Stormwater Solutions and Vertically Integrates Stormwater Management Solution
GlobeNewswireMar 1, 2023 5:01 PM EST
TORONTO, March 01, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has acquired the assets of Triton Stormwater Solutions, a privately owned provider of highly engineered, lightweight, composite materials-based underground infiltration chamber products, used primarily within stormwater management solutions. The product line will be consolidated into Shawcor’s Xerxes® business unit, which is reported as part of the Composite Systems segment.
“The acquisition of Triton Stormwater Solutions’ technology portfolio allows Shawcor to further expand our ability to offer a complete, composite materials based, stormwater management solution,” said Martin Perez, President of Shawcor’s Composite Systems segment. “This important addition is tightly aligned with our existing Xerxes tank business and its Hydrochain™ product line, and will serve to both optimize production efficiencies and unlock additional opportunities to serve our stormwater customers in North America, Europe and Asia-Pacific.”
Joe Miskovich, who founded Triton Stormwater Solutions in 2004, added, “We have been working together with Shawcor for the past two years to deliver robust and efficient solutions to manage stormwater from increased rainfall events and reduce flood risks. We are excited to take the next step to combine Triton Stormwater Solutions’ technologies with Shawcor’s ability to scale.”
Triton Stormwater Solutions provides customers with world-class stormwater products, customer service and manufacturing processes. In 2022, Triton Stormwater Solutions generated approximately US$8 million in revenue.