Parties
Company
Miura Co., Ltd.
Company
Cleaver-Brooks
On May 16, 2024, Miura Co., Ltd., a leading global boiler manufacturer headquartered in Japan, acquired Cleaver-Brooks, a prominent provider of boiler room solutions. The transaction aimed to enhance both companies' capacities to deliver sustainable and innovative boiler technologies and superior customer service across North America, including Canada. Miura acquired Cleaver-Brooks for CAD 1.052 million (US$774 million).
Bart Aitken, President and CEO of Cleaver-Brooks, expressed enthusiasm about the partnership, highlighting the potential for collaboration with Miura's experienced leadership team. Aitken emphasized that Miura's involvement would support Cleaver-Brooks in continuing to engineer top-tier, sustainable boiler room solutions and maintaining high customer service standards.
Daisuke Miyauchi, Miura’s Chairman of the Board and Chief Global Group Officer, echoed this sentiment, noting Miura's excitement to collaborate with Cleaver-Brooks. Miyauchi pointed out the strong customer relationships Cleaver-Brooks has built and anticipated contributing to industries that depend on heat as a critical production resource in increasingly diverse and impactful ways.
Cleaver-Brooks and Miura Co., Ltd. both operate in Canada, providing advanced boiler technologies and solutions to various industries.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 1,052,000,000Deal Status
ClosedClosing Date
16 May 2024