Lanair Holdings buys competing company
Lanair Holdings bought Clean Burn, a niche manufacturer of waste oil heaters and related equipment that's based in Lancaster, Pa.
For more than 25 years, Clean Burn has been a leader in the manufacture and sale of used-oil heaters and boilers.
In the deal, Lanair gets Clean Burn's distribution network, which Lanair CEO Barry Brandt said is the largest and strongest in the industry.
"I am excited about the addition of Clean Burn to our lineup of products," Brandt said in a press release. "Clean Burn's leading market position and strong distribution network will complement our existing products and significantly strengthen our market position.
"Their products' quality and reputation are second to none."
Lanair has about 40 employees at its 80,000-square-foot facility on Capital Circle. Its products are primarily sold directly to end users under the Lanair name.
Brandt last year bought the assets of Lenan Corp. from Les and Nancy Marzahl, who founded the Janesville company in 1976 and pioneered the technology for burning waste motor oil in heaters.
The company primarily sells heaters to customers who have a waste oil stream and want to lower their heating bills. Examples include car dealerships and fleet trucking companies.
Lanair Products is a subsidiary of Lanair Holdings, a partnership of Brandt and the Chicago-based private equity firm of Aldine Capital Partners.
Brandt said his company will operate Clean Burn in Pennsylvania as a wholly-owned subsidiary of Lanair Holdings.
Last updated: 3:56 pm Thursday, December 13, 2012