Badger Meter has announced its acquisition of SmartCover® Systems from XPV Water Partners for $185 million. This deal, financed through available cash, enhances real-time monitoring capabilities for utility water collection systems, particularly focusing on sewer line and lift station oversight, complementing the existing network monitoring tools in Badger Meter’s BlueEdge suite of water management solutions.
SmartCover, which generates around $35 million in annual revenue, offers sensors, software, and related services that monitor sewer levels continuously, identifying changes in patterns and automatically notifying utilities of potential problems.
Their solutions help utilities predict, detect, and prevent sewer overflow incidents, ultimately saving costs while safeguarding public health and the environment. Furthermore, the technology can decrease the frequency of cleanings, identify areas of inflow and infiltration, detect intrusions, and reduce harmful sewer gas emissions. SmartCover also supplies monitoring and control hardware and software for lift stations.
Kenneth C. Bockhorst, Chairman, President, and CEO of Badger Meter, remarked, “SmartCover integrates seamlessly into our BlueEdge suite of hardware-enabled software solutions, broadening the range of data, information, and analytics that enhance our customers’ water management capabilities. Our customers increasingly report that extreme weather events cause significant challenges for municipal water infrastructure.
SmartCover leads the rapidly expanding stormwater management sector, which is still in the early stages of adoption in North America and other regions where we operate. Besides hardware sales, SmartCover also generates substantial recurring annual software and support revenues. By utilizing our premier Badger Meter sales network to expedite municipal adoption of SmartCover’s solutions, we aim to boost long-term shareholder value.”
Corey Williams, President and CEO of SmartCover, expressed, “We are thrilled to partner with Badger Meter to help water utilities effectively tackle the challenges posed by aging infrastructure, limited resources, and severe weather impacts on system resilience. Badger Meter’s innovation and leadership in smart water management make it the ideal home for our leading collection system monitoring technologies. Together, we will empower customers to visualize and optimally manage their entire wastewater management systems.”
Source : Badger Meter
