Amit Gupta, CEO of Aeroseal, said the company has grown from 240 employees a year ago to 300 employees today. He said it projects to add another 50 jobs at its corporate headquarters in Miamisburg within the next six to 12 months.
“Aeroseal’s strong projected growth stems from a combination of strategic initiatives and favorable market dynamics,” Gupta told Dayton Daily News. “This acquisition and the launch of Aeroseal Arabia highlight the critical role of local expertise and infrastructure in driving the global adoption of transformative climate technologies like Aeroseal, which in turn fuels significant growth company-wide.”
Gupta declined to disclose terms of the deal.
As part of the acquisition, which includes AWT’s 50 employees, that company will be rebranded as Aeroseal Arabia. It will continue to serve its existing clients while expanding offerings to include the full suite of Aeroseal products and services.
“We are proud to become part of Aeroseal’s global network and join the company’s mission to drive building decarbonization and energy efficiency through pioneering technology that greatly outperforms traditional solutions,” Aeroseal Arabia CEO Fadi Shoura said in a statement.
The company’s strategic expansion also builds on its existing momentum in the region, including its partnership with Aramco, and growing adoption of its technology globally. To date, that includes the envelope and duct sealing of over 300,000 buildings in more than 30 countries.
Recent acquisitions across the United States and abroad have strengthened Aeroseal’s global presence and integrated key additional talent into the company, positioning it to meet growing demand in the near term and in the years to come, the company said.
It also has more than $100 million in funding, including from Bill Gates’ Breakthrough Energy.
The rebranding of AWT aims to accelerate adoption of Aerosol’s technologies, particularly in decarbonizing buildings and achieving Net Zero standards, Gupta said.
“Most of our dealers have good presence in the marketplace, but the dealers (do not) have the same level of capital horsepower, (do) not have the same level of engineering horsepower,” he said. “By combining (entities), we can rapidly accelerate the adoption of our technologies and work with not only engineers, but architects in the region to enable buildings to be built Net Zero-ready at the highest standards of the buildings.”
Aeroseal was founded in 1997 by Mark Modera, the technology’s inventor. Carrier purchased the company from him in 2001 and Gupta purchased the company in 2010, leaving his job at Carrier to do so.
About the Author
