MiTek Inc., Chesterfield, MO today announced its acquisition of Heat Pipe Technology Inc., Gainesville, FL, an industry leader in providing proprietary energy recovery and dehumidification heat pipe systems, designed for use in commercial, industrial and institutional HVAC systems.
MiTek, a subsidiary of Berkshire Hathaway Inc., is a leading supplier of products, equipment, software and services for the building components industry.
“We're thrilled to be part of the MiTek and Berkshire Hathaway team,” says Tom Brooke, president of Heat Pipe. “Our MiTek ownership will allow us to provide an even stronger level of service to our customers, to accelerate our geographic growth, and to expand our business through strategic acquisitions.”
MiTek will also collaborate with Khanh Dinh, Heat Pipe’s founder and former majority owner, to support the company’s ongoing product development and expansion plans.
“This development will give us the capability to meet the increasing demand for Heat Pipe’s products and services,” adds Dinh. “Heat Pipe is an outstanding addition to the MiTek family, allowing us to further extend into the commercial, industrial and institutional markets,” says Gene Toombs, chairman/CEO of MiTek. “Tom Brooke will continue as president, Maz Awad will remain as vice president of sales, and all existing Heat Pipe associates will stay with the company. Heat Pipe will operate as a separate subsidiary of MiTek."
Founded in 1983, Heat Pipe has pioneered the design and application of heat pipe systems for energy recovery and dehumidification, supplying thousands of systems to HVAC processes and end users. Sources report its products can reduce a building’s HVAC energy requirements up to 40% or more in some cases. The company’s proprietary HRM-P™ pump-assisted energy recovery system provides the most efficient energy recovery system available for buildings requiring the separation of make-up air and exhaust air, such as research laboratories, hospitals and many other manufacturing environments.
MiTek Inc. is a leading supplier of products and services to the building components industry.