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Evoqua Water Technologies (NYSE: AQUA) announced its acquisition of Smith Engineering, enhancing its high purity water treatment capabilities and expanding its North American service footprint. Smith Engineering, based in Chaska, Minnesota, specializes in custom high purity water treatment equipment for various industries, including biotech and medical devices. With over 1,200 customers, this acquisition aims to strengthen Evoqua's market position. The transaction is expected to close in Q4 fiscal 2022, subject to standard conditions.
Positive
Acquisition of Smith Engineering enhances Evoqua's high purity water treatment capabilities.
Expansion of North American service footprint, increasing market presence.
Smith Engineering has a reputable customer base across multiple industries, providing growth opportunities.
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None.
The acquisition will enhance Evoqua's portfolio of high purity water treatment capabilities while expanding its North American service footprint
PITTSBURGH & CHASKA, Minn.--(BUSINESS WIRE)--
Evoqua Water Technologies (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, today announced that it has entered into a definitive agreement to acquire privately-held Smith Engineering, Inc. The acquisition will enhance Evoqua's portfolio of high purity water treatment systems and expand its service footprint in North America.
Smith Engineering, headquartered in Chaska, Minnesota, is a leader in the design, manufacturing, and service of custom high purity water treatment equipment serving the biotech/pharmaceutical, data center, food and beverage, healthcare, medical device, and microelectronics markets. With over 1,200 customers in North America, Smith Engineering offers a variety of water treatment products and services, including filtration, UV, reverse osmosis, and deionization.
"Smith Engineering has built a solid reputation as a trusted partner, providing reliable high purity water solutions and services to their broad customer portfolio," said Ron Keating, Evoqua's Chief Executive Officer. "This addition will further strengthen our service footprint in North America, enabling us to better serve our customers."
The transaction is expected to close during Evoqua's fourth quarter of fiscal 2022, which ends September 30, 2022, subject to the satisfaction of customary closing conditions. Upon closing the transaction, the business will be part of Evoqua's Integrated Solutions and Services segment.
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.
