Grundfos to make a splash with Eurowater deal

Grundfos has signed off on a deal to buy Denmark-based water treatment plant manufacturer Eurowater for an undisclosed sum.

Completion is slated to take placing during autumn 2020, subject to regulatory approvals.

The deal is in line with Grundfos’ strategy to strengthen its position in the water treatment and technology segments, while addressing water challenges worldwide.

Formed in 1936, Eurowater produces treatment plants which are used by customers across the automotive, chemical, electronics and agriculture and horticulture industries, among others.

Its offerings include filtration systems, frame-mounted plants and rental facilities.

The company’s Silex and Eurex plants produce demineralised water, resulting in salt-free water with a conductivity of less than 0.5 microsiemens per centimetre.

Eurowater also provides installation, start-up and design services, as well as sales and consultancy operations.

The group has 411 employees and 23 offices in 14 countries throughout Europe.

Ulrik Gernow, group executive vice president of Grundfos, said: “Eurowater brings a broad portfolio of solutions and a deep understanding of water treatment applications and end-users. This will enable us to strengthen our value proposition to customers.”

Torben Buhl, the target’s managing director, noted the buyer’s global reach and product range would help the business develop innovative and water efficient offerings for its clients.

Headquartered in Bjerringbro, Grundfos manufactures and supplies a range of liquid pumps for customers in the automotive, biofuel and drinking water treatment industries, among others.

More:  SCG Packaging puts IPO on ice

It has 19,280 employees and operates in 56 countries worldwide.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 85 deals targeting water supply and irrigation systems providers announced globally in 2020 to date.

In the largest of these, China-based Jiangxi Hongcheng Waterworks announced plans to issue convertible bonds worth CNY 1.80 billion (USD 253.77 million).

Manila Water Company, Veolia Environment and Suez, among other companies, were also targeted in this sector.

© Zephus Ltd


More from: | Category: M&A News