Australian-Singaporean water and wastewater treatment company De.mem Ltd has signed a binding agreement to acquire a 75% stake in Germany’s Geutec Umwelt- und Abwassertechnik GmbH for approximately A$915 000 in cash.
Essen-based Geutec develops, manufactures and sells chemicals-based products and solutions for industrial wastewater treatment to customers across Germany and Europe. Customers include small and medium sized companies (SMEs) and a number of multinational corporations from the heavy industrial, plating and metals processing industries.
Geutec’s chemicals complement De.mem’s membrane-based water treatment products.
“Geutec’s chemicals-based water and waste water treatment solutions are highly synergistic to our membrane products,” said Andreas Kroell, CEO of De.mem Group. “The acquisition of Geutec GmbH provides a logical expansion of De.mem’s product range into the supply of industrial chemicals for water and waste water treatment. Furthermore, the acquisition further diversifies our revenues and provides growth options in the German and European industrial wastewater treatment markets.”
Geutec founder, owner and managing director Uwe Graessel, will remain with De.mem after the acquisition is finalised.
Immediately following the transaction, Geutec GmbH will be re-named De.mem-Geutec GmbH.
De.mem intends to set up a Chemicals Division across the group’s different locations so that it can intensify its sales efforts for water treatment chemicals based on Geutec’s proprietary product range.