PVI Industries, LLC, a holding company formed in 1990, is headquartered in Fort Worth, Texas where it manufactures commercial water heaters, firetube boilers, multi-tube boilers and related component parts. Alden serves the North American commercial and institutional water heater markets through three operating subsidiaries: PVI Industries, LLC, Webster Engineering and Manufacturing Co., and Riverside Hydronics, LLC. The Company maintains manufacturing facilities in Fort Worth, Texas and Winfield, Kansas.

Merit provided subordinated debt to finance the recapitalization.