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Bradford White Corp., an industry-leading manufacturer of commercial, residential and industrial heating solutions and storage applications, announced it has reached a definitive agreement with Bradley Corp. to acquire the assets of Keltech Inc., a manufacturer of commercial electric tankless water heaters known for their premier performance and durability for more than 30 years.
Upon closing, the acquisition will expand Bradford White's portfolio of commercial electric products to help satisfy a wider variety of customers and prepare for the ongoing adoption of electrification initiatives by communities throughout North America.
"Since the Keltech line was introduced in 1987, it has been known in the commercial and industrial water heating community for its dependable performance record," said Bruce Carnevale, CEO and president of Bradford White Corp. "In addition to providing an immediate and critical expansion of the Bradford White portfolio, this acquisition is also an opportunity to grow and develop the Keltech product line by incorporating Bradford White's technology and manufacturing experience."
The Keltech acquisition will also begin a new partnership between Bradford White and Bradley. Some of Bradley's key products are complemented by a portion of the Keltech electric tankless water heater portfolio and Bradford White will supply those models directly to Bradley under the "Bradley powered by Keltech" brand.
"Transitioning the Keltech line to Bradford White delivers extraordinary value to both Bradley and Keltech customers," said Bryan Mullett, chairman/CEO of Bradley Corp. "Bradford White's history of quality and innovation will help optimize a top commercial tankless brand for the long term, and we will be able to continue delivering quality Keltech products in combination with a number of our safety products such as emergency eye wash and emergency safety shower stations."