Exchange Income Corporation acquires DryAir Manufacturing for $60 million

On October 5, 2023, Exchange Income Corporation (EIC) (TSX:EIF) acquired DryAir Manufacturing Corp. (DryAir), for a purchase price of approximately $60 million.

Based in Winnipeg, EIC is a diversified acquisition-oriented company, focused on the aerospace, aviation and manufacturing sectors.

DryAir is a leader in the field of portable, hydronic heating systems. Founded in 1994, the company has developed innovative heating systems that provide affordable and reliable climate control solutions to industries throughout North America. DryAir is recognized for its industry-leading heating efficiency and reliability.

MLT Aikins was pleased to act as legal counsel to EIC on its acquisition of DryAir.

The lawyers in our Mergers & Acquisitions group have wide-ranging experience advising on significant private and public transactions across Western Canada. Contact us to learn more.