Evoqua Water Technologies Enters into Definitive Agreement to Divest Its Carbon Reactivation and Slurry Services Business to Leading European Carbon Solutions provider DESOTEC
15 Febrero 2023 - 6:00AM
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 divest its carbon
reactivation and slurry operations to DESOTEC, the European market
leader for industrial mobile filtration solutions based on
activated carbon technology.
The agreement, which includes the product line's workforce,
reactivation facilities and associated equipment in Darlington,
Pennsylvania, and Parker, Arizona, and the reactivation and carbon
vessel manufacturing facility in Red Bluff, California, is expected
to close during Evoqua's third quarter of fiscal 2023, which ends
June 30, 2023, subject to customary terms, regulatory approvals,
and closing conditions. Gross proceeds upon closing of the
transaction are anticipated to be approximately $100 million.
The sale of the carbon reactivation and slurry business will
allow Evoqua to focus on its core service business, which includes
carbon services and the sale of high-quality activated carbon.
After close, Evoqua will enter into a supply agreement with DESOTEC
for reactivated carbon to continue to service its customers. Carbon
is typically used in municipal and industrial applications to
remove organic and inorganic contaminants from water sources.
"A critical aspect of our strategy is to focus on businesses
aligned with our technology and service core competencies, with the
highest potential for global growth, scalability, and value
creation," said Ron Keating, Evoqua's Chief Executive Officer. "We
are confident that the carbon reactivation and slurry business will
thrive under DESOTEC's leadership, and we look forward to working
together as we provide activated carbon solutions to the
marketplace."
Julie Santens, Chief Executive Officer of DESOTEC, added,
“Today’s announcement marks the beginning of an exciting new
chapter for DESOTEC as we continue on our mission to better protect
the planet. This landmark investment is the first step as we embark
on the rollout of our North American growth strategy and further
expansion of our leading market position. We are delighted to
partner with Evoqua, and look forward to best serving all our
customers, employees and other stakeholders involved.”
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.
About DESOTEC
DESOTEC, founded in 1990, is the leading European provider of
mobile filtration solutions through a unique and circular service
concept, which helps protect the planet by enabling clean water,
air, and soil. DESOTEC's customer base is constantly growing thanks
to a strong focus on 24/7 service and a commitment to design and
deliver the best solution in close dialogue with the customer.
Through in-depth expertise of industrial applications and
continuous investment in mobile filters, reactivation capacity and
well-positioned hubs, DESOTEC ensures that the industry can meet
the increasing regulations for a better and cleaner environment.
Private equity funds managed by Blackstone acquired DESOTEC in
2021. Further information is available at www.desotec.com.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $951 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity,
infrastructure, life sciences, growth equity, opportunistic,
non-investment grade credit, real assets and secondary funds, all
on a global basis. Further information is available at
www.blackstone.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230215005444/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
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