# CECO Environmental forms damper joint venture with Mader Machine Co.

CECO Environmental agreed to form a joint venture combining its Effox-Flextor damper business with the damper business of Mader Machine Co., a CHIEF Capital portfolio company. CECO will hold 70 percent of the equity and consolidate the joint venture.

- Type: Acquisition
- Announced: 2020-08-04
- Where: United States
- Status: announced
- Products: dampers, air quality damper systems
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [CECO Environmental](https://endata.com/companies/6852.md) (partner)
- [Mader Machine Co.](https://endata.com/companies/6853.md) (partner)
- [CHIEF Capital](https://endata.com/companies/6854.md) (investor)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/ceco-environmental-announces-joint-venture-between-its-effox-flextor-business-and-mader-machine-co-a-portfolio-company-of-chief-capital-to-strategically-align-for-growth-and-efficiencies-301106095.html), 2020-08-04: "CECO will hold 70 percent of the equity, consolidate the financial reporting, maintain 2 of 4 board seats"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.