Xylem to acquire Evoqua in $7.5 billion water-treatment deal.
- January 25, 2023
- Posted by: Sinead Sprigg
- Category: Companies, Corporate, Global, Water Treatment
Leading global water technology company Xylem Water Solutions has acquired Evoqua Water Technologies Corp. – a leading provider of mission critical water and wastewater treatment solutions for $7.5 billion. The transaction will allow the companies to deliver an unparalleled portfolio of advanced technologies, integrated services and application expertise across the water cycle.
Together, the companies generated over $7 billion in combined revenue in the 12-month period ending September 30, 2022. The combination unlocks compelling new growth opportunities and is expected to deliver run-rate cost synergies of $140 million within three years.
Evoqua shareholders will receive 0.480 shares of Xylem for each Evoqua share, representing a value of $52.89 per share. The transaction, which is anticipated to close in mid-2023, is subject to approval by shareholders and the receipt of required regulatory approvals.
Xylem and Evoqua shareholders will own approximately 75 percent of the combined company on a fully diluted basis. The combined company will continue to be led by Patrick Decker, Xylem’s President and CEO.