Skytech II, a leading manufacturer of control systems for the hearth and HVAC industries, is pleased to announce its acquisition of key assets of Fire Gear, including its growing line of award-winning outdoor products branded under the
firegear name. The effective date of the acquisition was January 1, 2013.
Under the terms of the purchase agreement, Skytech will acquire assets including receivables, inventory, certain contracts and intellectual property, among other specific items. The
firegear brand will continue under the leadership of Dennis G. Smith, founder of Fire Gear.
"I am truly excited about the future of
firegear and for its customers who will benefit from Skytech's resources and exceptional service," said Dennis Smith.
"We are very excited to be adding the popular
firegear line to our extensive selection of control systems for the hearth and HVAC industries.
firegear is a 10-year-old brand with strong growth potential specifically in the outdoor segment of the hearth and patio furniture industries. Further, we believe the brand will strengthen our business relationships with our current distributors and dealers by expanding on our current outdoor line of products," said Chris Flick, CEO of Skytech.
"Skytech has built its reputation on service before, during and after the sale, said Henry O. Hall, president of Skytech. "As a proven leader in control systems, Skytech will continue that tradition by developing innovative systems to support the
firegear brand. The
firegear acquisition by Skytech will add value to our distributors and dealers as this brand will flow through our widespread distributor/dealer network as well as continue to support
firegear's loyal customer base."
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