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Press Release: May 3, 2010

Submittal Contact:    
Douglas Steege, VP Marketing and Sales  
800-627-4499  
www.renewaire.com  

Soler & Palau Ventilation Group (North America) purchases RenewAire LLC

MADISON, Wis.—Soler & Palau, a leading worldwide ventilation products manufacturer, today announced the acquisition of the assets of RenewAire LLC, one of North America’s leading manufacturers of energy recovery ventilation (ERV) equipment for buildings. With this purchase, Soler & Palau substantially strengthens its manufacturing and sales base in North America and will be able to offer a full range of high efficiency building ventilation products for residential, commercial and institutional applications. RenewAire business will continue to operate as an independent company with manufacturing and sales offices in Madison, Wisconsin. The RenewAire management team also continues as minority partners in the entity operating the RenewAire business.

“Soler & Palau intends to be a dominant ventilation product supplier in North America and RenewAire’s reputation for reliable and energy efficient indoor air quality products is an important part of our planned growth,” said Eugene C. Scotcher, CEO of the Soler & Palau Ventilation Group – North American Division. RenewAire will be Soler & Palau’s second significant manufacturing facility in North America.

RenewAire ERVs have been the largest selling plate type ERV in North America for 25 years. Their products use a durable and reliable core technology that transfers both heat and humidity for superior year-round performance. “By joining the Soler & Palau Group, RenewAire gains access to world class air handling technology that will provide equally efficient balance-of-system performance,” said Chuck Gates, President RenewAire LLC.

Soler & Palau and RenewAire will continue to sell their separately branded ventilation equipment through heating, air conditioning and ventilation (HVAC) distribution channels and their strong, technically oriented representative networks. Their customers will now have a complete line of cost effective, high efficiency products to meet any building’s ventilation requirement.

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