Heat Exchanger Design

What Heat Exchanger Design does

Heat Exchanger Design, Inc. (HED) is a privately held, ASME authorized industrial manufacturer founded in 1984 in Indianapolis, Indiana by Hesham Derazi. The company designs and fabricates custom heat exchangers and pressure vessels — including Shell & Tube, Hairpin/Double Pipe, Air Cooled, Waste Heat Boilers, Sulfur Condensers, Tank Heaters, and Special Application units — engineered to ASME Section I and VIII (Division I), TEMA, and API standards, with pressure capabilities from full vacuum to over 14,000 PSI and surface area up to 40,000 sq ft. HED also operates in-house titanium fabrication and turbulator production lines, providing corrosion-resistant and enhanced heat-transfer solutions for specialty applications.

The company operates from a 93,000 sq ft fabrication footprint with 100-ton crane capacity, a 4,000 sq ft general office, 1,000 sq ft engineering office, 60,000 sq ft outdoor storage, and a 40,000 sq ft remote machine shop. Revenue is generated primarily through enterprise direct sales of custom-engineered equipment, tube bundle replacement/retubing services, and spare parts, all priced via Request-for-Quote (RFQ) processes. Its go-to-market is enterprise field sales, with named sales, engineering, and purchasing contacts handling direct inquiries from global customers across petroleum, petrochemical, power generation, food, and government (US Navy) verticals. The customer roster includes Exxon Mobil, Shell, BP, Chevron, Conoco-Phillips, BASF, DuPont, Praxair, General Motors, US Steel, Procter & Gamble, Eli Lilly, and engineering firms such as CB&I, Fluor, and SNC-Lavalin, with active projects in 18+ countries.

The business model is fundamentally engineered-to-order: each unit is built to customer specifications using advanced engineering software (STX, AspenTech, HTRI, AutoCAD, CodeCalc, FEA via NEi Nastran), with CRN certification experience supporting Canadian deliveries. The company is founder-owned and operated, with no disclosed external investment, M&A activity, or institutional capital. Its value proposition rests on design flexibility under extreme conditions, broad product selection, regulatory certification depth, and decades of installed-base relationships — a profile consistent with a specialized industrial fabricator rather than a technology-enabled business.

Name

Heat Exchanger Design

Legal name

Heat Exchanger Design, Inc.

Website

https://www.hed-inc.com/

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

11–50 employees

Short description

Heat Exchanger Design, Inc. is a privately held Indianapolis-based ASME authorized manufacturer founded in 1984 that designs and fabricates custom heat exchangers and pressure vessels for petroleum, petrochemical, power, food, and government customers worldwide, operating from a 93,000 sq ft fabrication facility with 50+ employees.

Ownership category

akta.pro rank

Product category

Industrial Heat Exchanger Manufacturing

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industries

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

Keywords

• Heat exchanger manufacturing
• Pressure vessel fabrication
• Industrial heat transfer equipment
• ASME certified manufacturing
• Shell and tube exchangers

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Custom Heat Exchanger Manufacturing: Design and fabrication of custom heat exchangers including Shell & Tube, Hairpin, Air Cooled, Waste Heat Boilers, Sulfur Condensers, Tank Heaters, and Special Application units. Revenue generated from equipment sales with pricing based on specifications, materials, and complexity.
2. Replacement Tube Bundles and Spare Parts: Supply of tube bundle replacements for any heat exchanger regardless of original manufacturer, along with spare parts sales. U-Tubes and Straight Tubes available.
3. Repair and Retubing Services: Repair and retubing services for existing heat exchangers and pressure vessels

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Heat Exchanger Design, Inc. is an ASME-authorized manufacturer that designs and fabricates custom industrial heat exchangers and pressure vessels, including Shell & Tube, Hairpin/Double Pipe, Air Cooled, Waste Heat Boilers, Sulfur Condensers, Tank Heaters, and Special Application units, with in-house titanium fabrication and turbulator production. The company also supplies replacement tube bundles and spare parts for any manufacturer's equipment, and provides repair and retubing services to industrial customers worldwide.

Product overview

Heat Exchanger Design, Inc. is a manufacturer of industrial heat transfer equipment offering a comprehensive portfolio of products including Hairpin Heat Exchangers (Double Pipe & Multitubes), Shell & Tube Heat Exchangers, Air Cooled Exchangers, Waste Heat Boilers, Sulfur Condensers, Tank Heaters, and Special Application Heat Exchangers. The company provides titanium fabrication capabilities and turbulators as specialized components. Service offerings include Tube Bundle Replacement, Repair and Retubing, and New Unit Sales. Additional products include Pressure Vessels, Chillers, Condensers, Reboilers, Economizers, Fuel Oil Heaters, Indirect Fired Heaters, After/Inter Coolers, Separators, Tank Suction Heaters, Hot Water Storage Tanks, and Finned Tube Sections. The company designs and fabricates to ASME Code, TEMA, API, and National Board standards, serving Petroleum, Petrochemical, Power, Food, and other industries worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Shell & Tube Heat Exchangers Shell and tube heat exchangers designed and fabricated to ASME code and TEMA standards, available in all TEMA types from 2" IPS with bare tube (straight and U-tubes), helical low-fin, and longitudinal fin options. Surface area from 1 to 40,000 sq ft and pressure from full vacuum to 14,000+ PSI. Used in petroleum, petrochemical, power, and general industrial process applications.
• Hairpin Heat Exchangers Hairpin heat exchangers (Double Pipe and Multitube) providing true counter-current flow, suitable for extreme temperature crossing, high pressure, high temperature, and low to moderate surface area applications. Available in bare tubes, finned tubes, U-tubes, straight tubes, fixed tube sheets, and removable bundle configurations. Used where conventional shell and tube designs are inadequate.
• Air Cooled Heat Exchangers Air cooled heat exchangers designed and fabricated up to 8 feet wide by 24 feet long tube bundles in standard pressure and temperature ranges, available in both plugged headers and removable cover headers. Used where cooling water is unavailable or for air-cooled process cooling applications.
• Waste Heat Boilers Waste heat boilers designed and manufactured to recover heat from various industrial processes, converting waste heat into usable steam or thermal energy. Used in power generation and industrial plants to improve energy efficiency.
• Sulfur Condensers Sulfur condenser chillers using plain and 10-fin tubes for flooded and direct expansion applications. Sizes range from 10 inches to 106 inches in diameter using steel and alloy materials. Used in sulfur recovery and chemical processing applications.
• Tank Heaters Various tank heater types including U-Tube, Stab-In heaters, Flat Bottom Coils, and Helical Coils in plain and fin tubes. Coils typically pass through 20-inch manways but can be modified for different sizes. Used for storage tank heating and freeze protection in petroleum and chemical storage.
• Special Application Heat Exchangers Custom-designed heat exchangers for special process and space requirements when conventional heat exchangers are impractical. Examples include wind tunnel flow coolers, duct heaters, fin tubes, high temperature superheaters, non-freeze bayonet heaters, steam superheaters, and flue gas steam generators. Used for unique industrial heat transfer challenges.
• Titanium Heat Exchangers Parts or complete heat exchangers fabricated from titanium in HED's dedicated in-house titanium fabrication area. Used for corrosive service applications where stainless steel or other alloys are inadequate, including chemical processing, seawater, and aggressive chemical streams.
• Turbulators Turbulator devices produced in-house for enhanced heat transfer performance in heat exchanger applications. Used to improve heat transfer coefficients and reduce fouling in heat exchangers.
• Pressure Vessels Pressure vessels designed and fabricated to ASME code, TEMA, API, and other industry standards. Used in petroleum, petrochemical, power, and general industrial applications for fluid containment under pressure.
• Chillers, Condensers, Reboilers, and Economizers Standard product line including chillers, steam condensers, reboilers, and economizers for various industrial heat transfer applications. Used in process cooling, vapor condensation, and energy recovery in industrial plants.
• Fuel Oil Heaters Fuel oil line heaters and suction heaters for petroleum and petrochemical applications, used to maintain fuel oil temperature and viscosity for combustion and pumping.
• Indirect Fired Heaters Indirect fired heat exchangers for various industrial heating applications where process fluid must be heated indirectly via a combustion-heated medium.
• After Coolers and Inter Coolers After coolers and inter coolers for compressed air and gas cooling applications, used in multi-stage compression systems to reduce gas temperature between stages.
• Separators Separators for process separation applications in petroleum, petrochemical, and industrial plants, used to separate liquid and gas or two-phase mixtures.
• Tube Bundle Replacement Services Tube bundle replacement services for any heat exchanger, including original units from other manufacturers. Available for both U-tubes and straight tubes configurations. Used to refurbish existing heat exchangers and extend equipment life.
• Repair and Retubing Services Repair and retubing services for existing heat exchangers and pressure vessels, restoring thermal performance and mechanical integrity of equipment that may have been supplied by HED or other manufacturers.
• Hot Water Storage Tanks Hot water storage tanks for thermal energy storage applications, used in industrial and commercial heating systems to buffer supply and demand.
• Tank Suction Heaters Tank suction heaters for maintaining fluid temperature in storage tank applications, used to keep viscous fluids pumpable and at process temperature.
• Finned Tube Sections Finned tube sections for enhanced heat transfer applications where shell-side heat transfer coefficient is low, used to improve heat transfer performance in shell and tube heat exchangers.
• New Units for Sale Pre-manufactured new heat exchanger units available for immediate shipment, including BEM-HORZ and AEM-HORZ configurations. Used for faster delivery when standard units meet requirements.

Quantifiable outcome

• Pressure capabilities from full vacuum to over 14,000 PSI
• +2 more outcomes

Named customers36 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Alfa Laval: Global leader in heat transfer, separation, and fluid handling — directly competes in shell-and-tube, plate, and welded heat exchangers serving the same petroleum, petrochemical, power, and process industries as HED.
• Kelvion: Specialist manufacturer of industrial heat exchangers (shell & tube, plate, brazed) for refinery, petrochemical, power, and marine applications; competes head-to-head with HED in custom-engineered process heat transfer equipment.
• API Heat Transfer: US-based manufacturer of heat exchangers and thermal management products for industrial and process applications; overlaps directly with HED in shell & tube and air-cooled exchangers for oil & gas and chemical customers.
• SPX Heat Transfer (SPX Technologies): Designs and manufactures heat transfer equipment including shell & tube, plate, and air-cooled exchangers for process industries — comparable customer base and engineering/scope to HED.

Broad incumbents

• GEA Group: Large process-equipment conglomerate with a meaningful heat exchanger / thermal division serving food, dairy, chemical, and refinery customers — overlaps on heat transfer but competes across a far broader portfolio.
• Chart Industries: Cryogenic and process heat transfer equipment provider serving LNG, petrochemical, and industrial gas customers; overlaps with HED on brazed, coiled, and shell & tube heat exchangers in process and energy end-markets.
• Babcock & Wilcox: Established manufacturer of boilers, waste heat recovery systems, and heat exchangers for power and industrial customers; competes with HED on waste heat boilers and high-pressure process heat transfer.
• Cleaver-Brooks: Manufacturer of boilers and heat transfer equipment for commercial and industrial markets including refineries and petrochemical plants — comparable product family and standards-based certification model.

Emerging players

• Holtec International: Specializes in heat exchangers and pressure vessels for nuclear and heavy industrial applications; narrower overlap but competes on ASME-coded, high-pressure heat transfer fabrication.

Regional players

• R. Wible Pipe & Supply / Midwest Thermal-Vac: Regional US heat exchanger fabricators serving Midwest industrial customers; smaller scale than HED but competing on similar shell & tube and retubing work for regional refineries and chemical plants.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Heat-Exchanger-Design-INC-104584802068919
• LinkedInlinkedin.com/company/heat-exchanger-design-inc-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heat Exchanger Design