XEBEC acquired by IVYS / ENBRIDGE
Context
The acquisition of Xebec Adsorption Inc. by Ivys, Inc. and Enbridge Inc. is a strategic move to expand the companies' presence in the renewable energy sector. The deal enables Ivys to strengthen its position in the clean energy solutions market, while Enbridge gains access to Xebec's proprietary technologies and expertise in gas generation. The acquisition is expected to drive growth and innovation in the renewable energy sector, with a focus on reducing carbon emissions and promoting sustainable energy solutions. The combined entity will have a robust product portfolio, including hydrogen dispensing infrastructure, DC fast-charging solutions, and industrial gas purification systems. The deal is also expected to enhance the companies' capabilities in addressing the universal challenge of climate change, with a strong commitment to achieving net-zero greenhouse gas emissions by 2050. The acquisition is a testament to the growing demand for clean energy solutions and the importance of strategic partnerships in driving innovation and growth in the sector.
Previously, the company had pursued a consolidation strategy by acquiring Air Flow (2020) and Tiger Filtration (2021).
XEBEC, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of .
Target
Xebec Adsorption is a premier global technology organization providing a comprehensive range of gas purification and filtration solutions for the renewable energy sector. The organization’s business model is built on an industrialized framework of Cleantech systems designed to produce renewable natural gas (RNG) and high-purity hydrogen. Its value proposition is centered on technical operational depth and market-leading expertise in adsorption technologies, ensuring the environmental compliance and performance of global gas networks. Strategically, the firm pursues an aggressive inorganic growth model, acquiring specialized service platforms to drive geographic densification and capture high-margin aftermarket revenue. By maintaining a dominant position in the renewable gas infrastructure market, the entity facilitates the structural decarbonization of industrial and municipal energy systems. The group prioritizes long-term value creation through the integration of proprietary gas processing hardware with a localized technical support network.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (CAD)
Other operations with XEBEC
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2021 | XEBEC | TIGER FILTRATION | UNITED KINGDOM | Valves, Pumps & Taps |
| 07/2020 | XEBEC | AIR FLOW | UNITED STATES | Industrial & Technical Distribution |
REFERENCES
Revenue range: 100M - 200M CAD
EBITDA range: 0M - 5M CAD
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