Easton, Md. – Caloris Engineering, LLC, a provider of advanced evaporation systems to the food, chemical and wastewater industries, has entered into a strategic partnership with a group of investors that will allow the company to expand its capabilities and product offerings in the near future.
The co-founders of Caloris agreed earlier this year to sell an equity stake to 3A Ventures, a consortium of five individual investors based in Minnesota, following a strategic partner search process in which a number of prospective buyers participated.
The founding partners of Caloris will retain a significant ownership stake. Co-founder Art Zimmer will continue to lead the company as the CEO. Jim Peterson, a member of 3A Ventures, became President of Caloris Engineering. The additional co-founders, Linda Zimmer, Daniel Neth and Barry McFarland, will continue to hold active management roles within the company.
All Caloris employees have been retained and select positions have been created to be filled with qualified candidates as they become available.
“Caloris has invested in the necessary personnel resources and in the development of innovative evaporation technology that will enable the company to continue its impressive growth trajectory into the future,” says Jim Peterson.
“And this is exactly what we will continue to do with our new partners, who will help us expand our technology base and markets, while we maintain strong financial performance, to the benefit of every stakeholder involved,” adds Art Zimmer. “While Caloris has already established its position as an evaporation technology leader, this partnership assures that the company will continue to provide innovative solutions to its customers going forward.”