It has been announced that Pure Technologies Ltd., through its subsidiary, Pure Holding, will acquire Wachs Valve and Hydrant Services (Wachs Water).
The Illinois-based Wachs Water provides flow control maintenance and support, leak detection and related asset management service to the water sector in the US. The total purchase price is reported to be US$18.5 million. Closing is expected to occur early in the second quarter of 2015.
“We are delighted with the opportunity to add Wachs Water to the Pure team,” said Jack Elliott, president and CEO of Pure. “This important acquisition further diversifies Pure’s business in the US water sector, broadens our client base especially in the small and medium-sized utility space, and provides us with complementary revenue streams in related pipeline management activities.”
Michael Higgins, Pure’s Senior Vice President for the Americas region, commented, “Wachs Water’s expertise in pipeline valve, hydrant and distribution systems management greatly expands our overall offering. Our respective water utility clients will benefit from an enhanced and integrated solution set which includes Pure’s proprietary inspection and monitoring technologies. Together, we now have the capability to fully manage pipeline condition assessment projects, from valve management to pipeline re-commissioning.”