Gables Energy Partners acquire North Miami Beach chemical company
With Chief Executive David Schwedel at the helm, Gables Energy Partners has acquired the North Miami Beach-based chemical manufacturer, Electrolytic Technologies Corporation (ETC). The deal marks the second one by Gables Energy Partners since its launch and merger with Coalview Ltd. in November 2014.
ETC specializes in on-site generation equipment for bleach and chlorine gas for water and wastewater treatment. The acquisition, which will retain ETC President Derek Lubie in his current position and will not cut any jobs, enables Gables Energy Partners to establish partnerships with municipalities.
In addition to this acquisition, the company’s active ventures include Coalview’s coal reclamation plant in Centralia, Washington. Gables Energy Partners projects earnings of approximately $40 million in Fiscal Year 2015.