THUNDER BAY — Industrial products and service provider Wajax Corporation has purchased Thunder Bay-based Process Flow Systems Ltd.
Mississauga-based Wajax says it's acquiring Process Flow's assets for about $4 million cash, plus a three-year performance-based payment of up to $650,000.
Founded in 1985, Process Flow supplies industrial pumps, valves and monitoring and control systems.
It serves a wide range of industries including mining, pulp and paper, water and wastewater management, and energy generation.
The company operates one branch location and employs four people.
Wajax was founded in 1858, and is one of Canada's longest-standing and most diversified industrial products and service providers.
"We are pleased to welcome Process Flow to the Wajax family," company CEO Iggy Domagalski said in a news release. "With it comes long-established customer and supplier relationships, and a team highly regarded for their technical expertise and customer service."
Domagalski said the acquisition of the Thunder Bay company enhances Wajax's industrial process capabilities for customers in Ontario.
— TBNewswatch
