Evoqua Water Technologies Closes Acquisition of Smith Engineering, Inc.

Rhea-AI Summary

Evoqua Water Technologies (NYSE: AQUA) has completed its acquisition of Smith Engineering, Inc., enhancing its high purity water treatment system portfolio. This strategic move aims to expand Evoqua's service footprint across North America, primarily targeting markets such as biotech, pharmaceuticals, food and beverage, healthcare, and microelectronics. With over 1,200 customers, the acquisition positions Evoqua to provide proven water solutions in key sectors. The company continues its commitment to delivering quality water treatment solutions for over 100 years.

Positive

• Acquisition of Smith Engineering enhances Evoqua's high purity water treatment portfolio.
• Expansion of service footprint in North America targets multiple growth sectors.
• Access to over 1,200 customers in biotech, pharmaceuticals, and other key markets.

Negative

• None.

Acquisition to expand Evoqua's water treatment service footprint in North America

PITTSBURGH & CHASKA, Minn.--(BUSINESS WIRE)-- Evoqua Water Technologies (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, today announced the closing of the previously announced acquisition of Smith Engineering, Inc. The addition of the business will enhance Evoqua's portfolio of high purity water treatment systems and expand its service footprint in North America.

Smith Engineering is a leader in the design, manufacturing, and service of custom high purity water treatment equipment headquartered in Chaska, Minnesota. The business offers a variety of water treatment products and services, including filtration, UV, reverse osmosis, deionization, and ultra-pure water systems.

"We are delighted to welcome the Smith Engineering team to the Evoqua family," said Ron Keating, Evoqua's Chief Executive Officer. "With the close of this transaction, Evoqua is well-positioned to expand its service footprint to provide proven water solutions for our customers in key markets."

With over 1,200 customers in North America, Smith Engineering primarily serves the biotech/pharmaceutical, data center, food and beverage, healthcare, medical device, and microelectronics markets.

About Evoqua Water Technologies

Evoqua Water Technologies is a leading provider of mission-critical water and wastewater treatment solutions, offering a broad portfolio of products, services, and expertise to support industrial, municipal, and recreational customers who value water. Evoqua has worked to protect water, the environment, and its employees for more than 100 years, earning a reputation for quality, safety, and reliability around the world. Headquartered in Pittsburgh, Pennsylvania, the company operates in more than 150 locations across nine countries. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. Enriching Life.® To learn more, visit www.evoqua.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220705005100/en/

Media

Sarah Brown, 506-454-5495 (office)

sarah.brown@evoqua.com

Investors

Dan Brailer, 724-720-1605 (office)

412-977-2605 (mobile)

dan.brailer@evoqua.com

Source: Evoqua Water Technologies

FAQ

What is the purpose of Evoqua's acquisition of Smith Engineering?

The acquisition aims to enhance Evoqua's high purity water treatment systems portfolio and expand its service footprint in North America.

When did Evoqua complete the acquisition of Smith Engineering?

Evoqua announced the completion of the acquisition on July 5, 2022.

How will the acquisition of Smith Engineering impact Evoqua's business?

The acquisition will provide Evoqua access to a larger customer base in key markets, enhancing its service capabilities and potential revenue growth.

What markets does Smith Engineering serve?

Smith Engineering primarily serves the biotech, pharmaceutical, data center, food and beverage, healthcare, medical device, and microelectronics markets.