ESW CleanTech Acquires Assets of Cleaire Advanced Emissions Controls

ESW CleanTech Acquires Assets of Cleaire Advanced Emissions Controls

ESW CleanTech, a diesel emissions control company, recently acquired the assets and product line from Cleaire Advanced Emissions Controls LLC.

Cleaire designed, developed and manufactured retrofit emission control systems for diesel engines, including those in school buses. The company closed its operations in mid-January after officials blamed a 3,500-acre fire on sparks from one of its diesel particulate filters, resulting in expensive recalls.

ESW CleanTech, a Delaware corporation, is a new wholly owned subsidiary of ESW Group, which formerly closed on the acquisition. ESW CleanTech will operate out of San Diego.

The asset acquisition and assumption of certain limited liabilities was consummated for a purchase price of $1.4 million plus a portion of gross profit realized on a certain purchase order.

Last modified onFriday, 25 April 2014 05:42