# Exchange Income Corporation acquires DryAir Manufacturing Corp.

Exchange Income Corporation has acquired DryAir Manufacturing Corp., a leader in portable hydronic heating systems, for approximately $60 million. The purchase price was funded by $15 million in EIC common shares and $45 million in cash.

- Type: Acquisition
- Announced: 2023-10-05
- Where: St. Brieux, Saskatchewan, Canada
- Value: $60.0M
- Status: completed
- Products: portable hydronic heating systems
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Exchange Income Corporation](https://endata.com/companies/73062.md) (acquirer)
- [DryAir Manufacturing Corp.](https://endata.com/companies/73063.md) (target)

## Sources

- [businesswire.com](https://www.businesswire.com/news/home/20231004791966/en/Exchange-Income-Corporation-Announces-the-Acquisition-of-DryAir-Manufacturing-Corp.), 2023-10-05: "EIC is excited to grow our manufacturing segment with the acquisition DryAir."

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