Evoqua complements Xylem’s portfolio of solutions with advanced water and wastewater treatment capabilities, an extensive service network and access to a number of attractive industrial markets including life sciences, microelectronics, power and food and beverage. The company is also a leader in the remediation of emerging contaminants, including PFAS.
The two companies had combined revenues of over US$7 billion in the 12-month period ending 30 September 2022.
“Solving the world’s water challenges has never been more urgent. Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability and resilience at even greater scale,” said Patrick Decker, president and CEO of Xylem. “The combined company delivers an unparalleled portfolio of advanced technologies, integrated services and application expertise across the water cycle.”
“We are excited about building the world’s most powerful platform for solving water alongside our Evoqua colleagues,” added Decker.
“Joining forces with Xylem is an exciting opportunity for Evoqua and for our team members. This combination provides a platform to leverage our combined strengths and increase our impact to better address the most pressing and increasingly complex global water challenges,” said Ron Keating, Evoqua’s president and CEO.
Evoqua shareholders will receive 0.480 shares of Xylem for each Evoqua share, representing a value of US$52.89 per share or a 29% premium based on Xylem and Evoqua closing prices on 20 January 2023. The transaction is expected to close in mid-2023.
Following the closing, the combined company will continue to be led by Patrick Decker, Xylem’s president and CEO. Two current members of Evoqua’s board of directors are expected to join Xylem’s board.