Air Water acquired Hitec from Egeria.

Air Water, a globally operating manufacturing conglomerate, acquired Hitec, which develops, manufactures and delivers full-service turnkey Dynamic UPS solutions, from Egeria, an independent Dutch investment company. Financial terms were not disclosed. By acquiring Hitec, Air Water is now in a position to develop a stronger global critical power business and a more competitive total-solution offering through alignment with, and leverage of, their existing critical power solutions business based in Asia. This acquisition will enable cost reduction of operations, the acceleration of innovation of new products and the strengthening of the global presence of Hitec.