Xylem has completed its acquisition of Evoqua Water Technologies, a provider of mission-critical water treatment solutions and services, in an all-stock transaction valued at approximately $7.5 billion.
Headquartered in Washington, D.C. the combined company becomes the world’s largest pure-play water technology company.
“Global awareness of water as a systemic risk to society has never been greater. Investment in water solutions continues to accelerate as communities and businesses around the world address intensifying challenges like water scarcity, quality and resilience to climate change – and how to address these issues in an affordable way,” said Patrick Decker, president and CEO of Xylem.
“Our combination with Evoqua creates a transformative global platform to solve these critical water challenges at an even greater scale. Together, we are uniquely positioned to help meet customers’ mission-critical needs with an unmatched portfolio of products and services across the water cycle.”
The combined company’s executive leadership team will be led by Decker and includes senior leaders from both Xylem and Evoqua. Xylem has also appointed Lisa Glatch and Lynn C. Swann, former Evoqua directors, to serve as members of its board of directors.
Source: Xylem