TriWest's Innova buys IP assets of Express Integrated Technologies

Innova Global Ltd has bought intellectual property (IP) assets of Express Integrated Technologies (EIT), a U.S. designer and maker of heat transfer and combustion engineering equipment for the power and process markets. No financial terms were disclosed for the deal, which resulted from Innova's bid in a bankruptcy court auction last month. Innova, a Calgary-based specialist in emissions and noise control, said the acquisition will expand its product portfolio. Innova was acquired by Canadian private equity firm TriWest Capital Partners in 2015. Tulsa, Oklahoma's EIT was acquired by U.S. private equity firm Sterling Group in 2010.

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