Leading global water technology company Xylem has completed its acquisition of Evoqua Water Technologies Corp, a leader in mission-critical water treatment solutions and services.
The transaction, worth approximately $7.5 billion, creates the world’s most advanced platform of capabilities to address customers’ and communities’ critical water challenges.
Headquartered in Washington, D.C., the combined company becomes the world’s largest pure-play water technology company, with $7.3 billion in pro-forma revenue and more than 22,000 employees globally.
Xylem’s unmatched portfolio of innovative solutions across the water cycle, including advanced technologies, integrated services, and deep application expertise, will help customers in utilities, industrial and commercial end markets address their most pressing water needs.
“Global awareness of water as a systemic risk to society has never been greater,” Xylem president and chief executive officer Patrick Decker said. “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.
“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 Patrick Decker and include 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.
Glatch brings a strategic and financial perspective and more than 30 years’ experience in senior leadership roles across the public and private sectors in the energy, chemicals, environmental, water and transportation industries.
Swann has held various leadership roles across business, government, and philanthropic organisations and is an experienced member of public company boards.
As part of the transaction, Xylem shareholders own approximately 75 per cent of the combined entity, with Evoqua shareholders owning the balance.