York County HVAC manufacturer under new ownership after bankruptcy
A York County manufacturer that makes parts for the heating and cooling industry declared bankruptcy this summer and is now operating under the ownership of a Maryland company.
Alcoil USA LLC filed for Chapter 11 bankruptcy protection on July 26. The company, based in Manchester Township, was looking for a buyer at the time as it sought relief from in excess of $1 million in debt, according to court documents.
After rejecting a $600,000 purchase proposal from Lancaster County-based Advanced Cooling Technologies Inc., Alcoil accepted an $850,000 offer from Evacpo Inc., an international HVAC parts manufacturer based in Maryland, documents show. Evapco announced the final acquisition in October.
The company still operates under the Alcoil name but as a wholly owned subsidiary of Evapco. Evapco recently paid $2.1 million to buy the 33,000-square-foot manufacturing facility that Alcoil had leased at 3627 Sandhurst Drive in Manchester Township, according to real estate records.
Evapco has engineering and manufacturing operations at 24 locations in 10 countries. The company invested $15 million in early 2017 to expand its northern Maryland headquarters, in addition to announcing plans to add 125 new jobs in that area over the next five years, according to reports from local news outlets.
For Evapco, Alcoil offered an opportunity to bring on the line of HVAC equipment - micro-channel heat exchangers - built at the Manchester Township facility.
“Alcoil is an excellent strategic fit with the company and aligns well with our growth objectives," Evapco president and CEO Bill Bartley said in an October news release. "These heat exchangers are an essential part of our future growth profile, and integrating this franchise into our portfolio will enable us to continue to innovate a full spectrum of global solutions worldwide."
John Kollasch, a 26-year Evapco employee, is leading the newly formed Evapco Alcoil Inc. as vice president and general manager.
Alcoil was founded in 2007 by Steve Wand after his first company, a York County heat-exchanger manufacturer called FlatePlate Inc., was acquired by a German firm. Alcoil had about 30 employees when it sought bankruptcy protection in July.