US companies FAB Industries (FAB) and Enviromech Industries (Enviromech), two providers of alternative fuel systems for heavy duty trucks, buses and specialty vehicles, have agreed to merge to form Agility Fuel Systems, headquartered in Tennessee. Element Partners, a clean technology-focused private equity fund, provided equity capital to complete the transaction. Sam Gabbita and Michael DeRosa from Element, and Michael Gallagher, Senior Advisor and Former President and Chief Operating Officer of Westport Innovations (also a Board Member of NGV Global) will join Agility’s Board of Directors.
With over a decade of design experience in the use of compressed and liquid natural gas, hydrogen fuels, and other compressed industrial gases, Agility Fuel Systems becomes a leading provider of on-vehicle alternative fuel systems to heavy duty commercial vehicle manufacturers, dealers and end-users. The Company’s full spectrum of services includes engineering, design, prototyping, manufacturing, installation, and continuous aftermarket service and support.
“Without question, FAB, AFV (a Southern California company acquired by FAB in 2005), and Enviromech are the leaders in the industry. This merger provides a platform to combine the best of the best and expand our services and footprint to meet the growing needs of the industry” said Ron Eickelman, President of FAB.
Key strengths of the combination include:
* Over 10,000 systems currently deployed in fleets across North America and around the world.
* Engineering, production, installation and service locations in California, Alabama, and British Columbia, Canada.
* Capabilities, experience and an extensive design library across a wide range of fueling systems, including CNG, LNG, hydrogen and electric hybrids, for a wide variety of vehicle configurations, engine technologies and fleet applications.
“Using natural gas rather than diesel oil as a transportation fuel represents a meaningful economic and environmental value proposition for heavy duty vehicle fleet operators, and Agility provides critical, highly-engineered fueling systems for these heavy duty vehicles,” said Gabbita.
Item primarily compiled using information from an Agility Fuel Systems press release.