Xylem Inc., a global water technology company and NGWA member, and Evoqua, a water treatment solutions and services provider, announced on January 23 they have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5 billion.
As water risks rise in global importance, this transaction unites two companies with a shared focus on solving the world’s water challenges by addressing customers’ and communities’ most critical needs.
Evoqua complements Xylem’s distinctive portfolio of solutions with advanced water and wastewater treatment capabilities, an extensive network of service professionals, and access to a number of attractive industrial markets with resilient, recurring revenue streams. Evoqua’s solutions, including digitally enabled offerings, optimize and outsource mission-critical water treatment systems for customers in high-growth sectors such as life sciences, microelectronics, power, and food and beverage. In addition, Evoqua is a leader in the remediation of emerging contaminants, including PFAS (per- and polyfluoroalkyl substances).
“Solving the world’s water challenges has never been more urgent. Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability, and resilience at even greater scale,” said Patrick Decker, president and CEO of Xylem. “The combined company delivers an unparalleled portfolio of advanced technologies, integrated services, and application expertise across the water cycle.
“Together, our complementary businesses will be even more strongly positioned to help our customers and communities tackle their most challenging water needs. We are excited about building the world’s most powerful platform for solving water alongside our Evoqua colleagues.”
“Joining forces with Xylem is an exciting opportunity for Evoqua and for our team members. This combination provides a platform to leverage our combined strengths and increase our impact to better address the most pressing and increasingly complex global water challenges,” said Ron Keating, Evoqua president and CEO.
“I am incredibly proud of what our team at Evoqua has achieved to date, providing mission-critical water treatment solutions to the market and for our customers. Along the way, we have earned a reputation for quality, safety, and reliability around the world. Together with Xylem, we will drive innovation on a larger scale for our customers, positioning us to create even more value for our stakeholders.”
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