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FOR IMMEDIATE RELEASE

 

NEWS RELEASE

DATE:

Nov. 30, 2009

for more info:

Michelle Mason/Claire Goldfarb, Hughes, 314.571.6300 (office), mmason@hughes-stl.com or Twitter @michelleimason 
Gregg Renner, MiTek, 314.851.7446

MiTek Acquires Heat Pipe Technology Inc.

CHESTERFIELD, Mo.  – MiTek Inc. today announced its acquisition of Heat Pipe Technology Inc., the 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 the world’s leading supplier of products, equipment, software and services for the building components industry.

“We are thrilled to be part of the MiTek and Berkshire Hathaway team,” stated 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,” added Dinh.

“Heat Pipe is an outstanding addition to the MiTek family, allowing us to further extend into the commercial, industrial and institutional markets,” stated Gene Toombs, chairman and 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 is based in Gainesville, Fla. Since its inception, 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. Through the company’s product innovation and industry-leading system design, Heat Pipe’s products can reduce a building’s HVAC energy requirements, in some cases, by more than 40 percent. 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 the world’s leading supplier of products and services to the building components industry. With operations on five continents, MiTek companies develop and sell products and services in the residential, commercial, industrial and institutional construction markets. Visit www.mii.com for more information on MiTek or www.berkshirehathaway.com to learn about Berkshire Hathaway.

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Editor’s Note:    MiTek is headquartered at 14515 North Outer Forty, Suite 300, Chesterfield, MO 63017.

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Last updated: Sep. 14, 2011