PEARL RIVER, N.Y. – Hudson Technologies Inc. announced that they have acquired the reclamation business and assets of Polar Technologies, a full service refrigeration reclaimer.
Hudson Technologies is a leading provider of innovative services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Polar serves several hundred wholesale customers from three reclamation facilities located in Nashville, Tennessee; Ontario, California; and Puerto Rico.
Kevin Zugibe, Chairman and CEO of Hudson Technologies, said the acquisition is an important milestone for Hudson, as it will expand their customer base, geographic presence and reclamation capacity.
“We believe Polar is the fourth largest reclaimer in the industry, historically reclaiming approximately 8% or more of the total-reclaim market, and they have been a respected competitor for many years,” Zugibe said. “Polar has an outstanding base of customers who are typically refrigerant wholesalers who serve HVAC contractors in the continental U.S. and Puerto Rico.
“Polar’s strong presence in California and Puerto Rico provides Hudson with local reach in these two important markets where we have previously had limited exposure. Furthermore, this acquisition also provides Hudson with reclamation capacity to service the refrigeration market created by the EPA’s R-22 phase out starting with a 60% reduction in production allowances in 2015.”
“We welcome Polar’s employees to the Hudson family and we look forward to expanded breadth of products and services.”