Construction M&A » By The Online Investor Staff, updated Tue., Jan. 26, 3:16 AM
Recent mergers and acquisitions in the Construction M&A category.
| This Slide: #65 of 100 |
Slide #65. Westport Innovations Inc. — BAF Technologies, Inc. and its subsidiary, ServoTech Engineering, Inc.
Acquirer:
Westport Innovations Inc. (NASDAQ:WPRT)
Acquiree:
BAF Technologies, Inc. and its subsidiary, ServoTech Engineering, Inc.
Details:
Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), the global leader in natural gas engines, today announced that it has acquired BAF Technologies, Inc. (BAF) and its subsidiary, ServoTech Engineering, Inc. (ServoTech), subsidiaries of Clean Energy Fuels Corp. (NASDAQ:CLNE) for $25 million in Westport stock. Westport and Clean Energy also announced a $5 million joint marketing and sales program.
Westport Fuel Systems is engaged in developing technology to enable more environmentally sustainable engines without compromising the performance, fuel economy, durability, and reliability of diesel engines. The substitution of natural gas for petroleum-based fuel drives a significant reduction in harmful combustion emissions, such as nitrogen oxides, particulate matter, and greenhouse gas, in addition to providing an abundant, relatively inexpensive alternative fuel. Co.'s systems can be used to enable combustion engines to use gaseous fuels, such as natural gas, propane, or hydrogen.
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Avg. Broker Rec.
 
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Strong Buy (3.50 out of 4) 100th percentile
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