March 4, 2014
AEREON to be a global leader in gas and vapor handling, combustion and recovery technologies and services
(AUSTIN, TEXAS) – March 4, 2014 – Flare Industries (Flare) and Jordan Technologies (Jordan) today announced the formation of AEREON, a parent company that provides customers a single-source supplier of environmentally-compliant gas and vapor combustion, handling and recovery equipment, while also offering the most service capabilities for upstream, midstream and downstream markets in the world. The founding of AEREON is a result of Flare’s acquisition of Jordan in Sept. 2012.
AEREON’s current subsidiaries include: Flare, an industry leader in design, manufacturing and installation of combustion and pollution controlled technology and equipment, Jordan, a leading supplier of vapor recovery units (VRUs) and the largest service company in the world, and Mactronic, provider of waste gas solutions to petroleum, petrochemical and landfill gas industries.
“The formation of AEREON is a significant achievement and the culmination of a lot of hard work by a lot of people. This signifies a rebirth for our organizations; we are poised for growth and excited to see what the future holds,” said Michael Hainsworth, president and chief executive officer of AEREON. “We can provide global solutions to meet customers’ needs, from manufacturing to service, which enables us to service the largest clients and projects in the world.”
With the combined product lines and service capabilities of Flare and Jordan, AEREON focuses on environmentally-compliant and cost-effective custom engineered and standard flares, high efficiency combustors, thermal oxidizers and VRU’s, while also offering the largest equipment service provider in the world.
Headquartered in Austin, Texas, AEREON operates in 44 countries, with more than 300 employees worldwide and offices in the U.S., Canada, Italy, U.K., the United Arab Emirates, Malaysia and Australia. Michael Hainsworth will assume the role of president and chief executive officer of AEREON, while maintaining his title of president of Flare.
“AEREON will continue to champion the same ideals as Flare and Jordan by focusing on providing the most innovative solutions in the industry, using a customer-focused employee base that extends globally,” said Hainsworth. “Regardless of our continued growth, the customer comes first. We like to say we are big enough to execute, but small enough to care.”
Private-equity sponsor, Turnbridge Capital, LLC, recapitalized Flare in Sept. 2011 and provided the equity capital to fund Flare’s acquisition of Jordan in 2012. Turnbridge will remain an active member of AEREON’s board of directors.
AEREON, headquartered in Austin, TX, is a global leader in combustion, vapor recovery, and pollution-control technologies services and equipment. AEREON was formed in 2012 when Flare Industries, LLC acquired Jordan Technologies. Under the two brands, AEREON offers the broadest product line of flare systems, enclosed combustion systems, ignition systems and vapor recovery units, and is the largest service company for VRUs in the world. AEREON operates in 44 countries around the world.