Public Announcement: Cryofab Inc. (NJ) Acquisition of Cryocomp Inc. (CA)
Cryofab Inc., a New Jersey-based manufacturer of cryogenic equipment, is pleased to announce the acquisition of CryoComp, a California-based supplier of cryogenic and vacuum valve assemblies.
- Newark, NJ (1888PressRelease) January 03, 2015 - Mr. Vincent Grillo and Mr. Gregory Grillo, Co-Presidents of Cryofab Inc., a New Jersey-based manufacturer of cryogenic equipment, are pleased to announce the acquisition of Cryocomp Inc., a California-based supplier of cryogenic and vacuum valve assemblies. The new company will retain the Cryocomp Inc. name as a wholly-owned subsidiary of Cryofab.
Cryofab, founded in 1971, is a global leader in design and supply of cryogenic dewars, storage vessels and transfer systems for the industrial gas, research, aerospace, medical, semiconductor, and pharmaceutical industries. Cryocomp adds expertise in cryogenic and vacuum valves, vacuum relief valves, pipe - and tube - sized bayonet assemblies, vapor vents and heaters, and helium control valves.
When asked what the motivation for the Cryocomp acquisition was, Greg Grillo stated "Cryofab has long desired to complement our extensive product line with offerings in the cryogenic bayonet and VJ valve areas. When the opportunity arose to achieve this goal through the acquisition of a respected and well established organization all ready entrenched in such a market it was difficult to resist".
Vincent Grillo added, "Cryocomp and Cryofab have enjoyed a decades long business association and a union of the two companies through acquisition is the perfect culmination (evolution) of that beneficial relationship".
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