Drew International acquires TRAC Ecological
by Jason Van Stone 6 Jul 2021 22:36 PDT
Drew Marine © Drew Marine
Drew International has acquired Trac-Ecological, a Florida-based company. Trac-Ecological has been a leading supplier of environmentally friendly and incredibly effective chemical solutions for yachts and other pleasure boats. The acquired business, whose products include: descalers, cleaners, degreasers, flushing units, and accessories, will fall under the Drew Marine Segment. This addition will allow the global maritime leader to enter the yacht and pleasure boat market with a proven portfolio of products and further brings an immediate, existing profit stream to Drew's overall portfolio.
The entrance into the leisure market will allow Drew to offer customers a full line of boating solutions in small packaging. These solutions will come from both Trac-Ecological's existing portfolio of products such as Barnacle Buster®, Sew Clean, and TEAgel®, as well as selections from Drew current product line which perform in some of the toughest marine environments.
"We are excited to add the Trac brand of products to the Drew family as it allows us to fill out our portfolio of maritime solutions and it represents a natural fit for our Marine Segment," Frank J. Monteiro, President and CEO of Drew International, said. Adding, "this line of products has a long, successful history and we are excited for the future it will bring to this particular segment."
"The acquisition by Drew Marine will be a great benefit to our customers," Patrick Leclerc, President of Trac-Ecological said. "Drew will bring resources that were not available to Trac that will allow for even better access to our marine chemical solutions, it's very exciting."
Drew Marine will move the production of the product line to its Manufacturing Center in Waterbury, CT USA. In conjunction with the deal, Drew will open a showroom and service center in the Fort Lauderdale, FL USA area that will be the home of its Yacht and Leisure Boat operations.
The law firm of Berchem Moses PC, of Milford, Connecticut, USA (www.berchemmoses.com) represented Drew Marine in the transaction. Financial terms of the transaction will not be released.
For more information about Drew Marine's range of solutions visit: drew-marine.com.