Evoqua Water Technologies Completes Acquisition of Frontier Water Systems

Rhea-AI Summary

Evoqua Water Technologies (NYSE: AQUA) has acquired the remaining equity of San Diego-based Frontier Water Systems. This follows an initial majority investment made in October 2019. Frontier specializes in engineered solutions for the removal of selenium, nitrate, and metals from water and wastewater, enhancing Evoqua's advanced treatment capabilities. The financial terms of the deal were not disclosed. CEO Ron Keating expressed enthusiasm about uniting with Frontier for improved customer solutions.

Positive

• Acquisition enhances Evoqua's advanced wastewater treatment portfolio.
• Strategic alignment between Evoqua and Frontier to meet water treatment needs.

Negative

• None.

PITTSBURGH & SAN DIEGO--(BUSINESS WIRE)-- Evoqua Water Technologies (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, today announced that it has purchased the remaining equity of San Diego-based Frontier Water Systems, LLC. Evoqua initially announced its majority investment position in Frontier Water Systems in October 2019.

Frontier Water Systems is a leading supplier of engineered equipment packages for high-rate treatment of selenium, nitrate, and metals in water and wastewater. Waste streams from processes containing metals and minerals must be treated to remove these contaminants prior to discharge. Frontier delivers a biological process that safely removes these metals in a proprietary, modular bioreactor.

The business adds to Evoqua's portfolio of advanced wastewater treatment technologies. The terms of the deal were not disclosed.

"Evoqua and Frontier have successfully partnered on numerous projects to help solve the water treatment needs of our customers," said Evoqua Chief Executive Officer Ron Keating. "We are pleased to officially welcome Frontier to the Evoqua family, and we look forward to continuing to deliver on our commitment to provide our customers with advanced water treatment solutions."

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 ten 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/20220404005067/en/

Evoqua Water Technologies

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 significance of Evoqua's acquisition of Frontier Water Systems?

The acquisition strengthens Evoqua's advanced wastewater treatment solutions and helps meet growing water treatment demands.

When did Evoqua initially invest in Frontier Water Systems?

Evoqua made a majority investment in Frontier Water Systems in October 2019.

What technologies does Frontier Water Systems specialize in?

Frontier Water Systems specializes in engineered solutions for high-rate treatment of selenium, nitrate, and metals in wastewater.

What were the financial terms of the Evoqua and Frontier acquisition?

The financial terms of the acquisition were not disclosed.

How does the acquisition affect Evoqua's market position?

The acquisition is expected to enhance Evoqua's competitive positioning in the water treatment market, providing more comprehensive solutions.