The acquisition by Bascom Hunter, a member of the Louisiana Technology Park, will create at least five new jobs in Baton Rouge, according to a statement by the park. The deal is also set to strengthen the company’s thermal management capabilities and will allow it to provide “a broader range of solutions to its customers.”
Xcelaero will move its headquarters to Baton Rouge and operate as a division of Bascom Hunter, offering legacy Xcelaero products and technology, as well as environmental control systems technology from Bascom Hunter. Bascom Hunter CEO Andrew McCandless will serve as president of Xcelaero, while Xcelaero’s longtime president, Dennis Pfister, will remain with the company as a member of Bascom Hunter’s board of directors.
The financial terms of the acquisition were not disclosed.
The announced acquisition is the latest growth step for Bascom Hunter, which has increased its staff to 15 employees over the past year. The company also recently signed a long-term lease at 8108 Picardy Ave., off Essen Lane, and plans to move its headquarters and engineering facility to the property later this year. Renovations are expected to be completed within the first half of 2020, with the company moving in over the summer.
“We’ve been planning this move for the better part of a year,” says McCandless, “making sure our new headquarters will be the perfect spot for us to continue our growth.”