Selas Corp. of America Assets Purchased
In March 2005, substantially all of the assets of the Heat Technology business of Selas Corp. of America, including the subsidiaries Selas Waermetechnik GmbH and Nippon-Sales Co. Ltd. with all intellectual property and trademarks have been purchased. Lionheart Ventures, a private equity firm in Stamford, Conn., established a new Delaware LLC to buy the assets and the foreign subsidiaries. Selas Corp. was required to change its name as part of the deal and did so to Intricon. The newly established heat technology division, Selas Heat Technology Co. LLC, based in Dresher, Pa. (http://www.selas.com), manufactures ultra-low NOx wall and floor burners, fuel blending systems, combustion control systems, heat processing furnaces and alternative energy applications, in particular landfill gas systems.