Tozour Energy Systems, the Trane equipment franchise in King of Prussia has recently acquired Baase, a manufacturer’s representative for several plumbing and HVAC companies, writes Natalie Kostelni for Philadelphia Business Journal.
Before the acquisition, Tozour was Baase’s biggest customer, said Kevin Duffy, Tozour Energy Systems’ President, in an interview with Philadelphia business Journal, adding that the acquisition idea was first floated two years ago.
“From my perspective, we got along fine but sometimes when attorneys get involved, the lines of communication can get strained,” explained Duffy.
“We took another run at it four months ago and changed some terms of the deal to make it work.”
Three of the five people currently at Baase will retire with the deal, while the other two are coming on-board as part of the new company. The deal gives Tozour broader coverage and more products to offer to customers.
“This is a good time to be acquiring,” added Duffy. “We have a strong balance sheet and financial position and will keep an eye out for other acquisitions we can make.”
Once the deal is finalized, Baase will operate as a Tozour’s division based out of its new King of Prussia headquarters.
Read the entire interview at Philadelphia Business Journal by clicking here.