Xylem completes acquisition of Evoqua Xylem completes acquisition of EvoquaCredit: Xylem Twitter account

A leader in mission-critical water treatment products and services, Evoqua, was acquired by Xylem, a leading global water technology firm, in an all-stock deal valued at roughly $7.5 billion.

The result is the most cutting-edge platform of capabilities in the world for addressing customers’ and communities’ pressing water concerns.

With a combined $7.3 billion in pro forma revenue and more than 22,000 employees worldwide, the merged firm, with its headquarters in Washington, D.C., becomes the largest pure-play water technology company in the world.

Customers across utilities, industrial, and commercial end markets can meet their most urgent water needs thanks to Xylem’s unrivalled array of innovative solutions across the water cycle, which includes cutting-edge technology, integrated services, and deep application expertise.

“Water is now more widely recognized than ever as a systemic concern to society. According to Patrick Decker, president and chief executive officer of Xylem, “Investment in water solutions continues to rise as communities and organizations around the world address escalating challenges including water shortage, quality, and resistance to climate change – and how to manage these issues in an affordable way.

“Our partnership with Evoqua enables a disruptive global platform to address these pressing water issues at a far larger scale. Together, we have an unequaled array of products and services across the water cycle that can help customers fulfill their mission-critical needs.

Headquartered in Washington, D.C., the combined company becomes the world’s largest pure-play water technology company

“Today is a great milestone as we officially welcome our new coworkers to Xylem and leverage the strength of our combined skills for our clients and communities every day.

As we work together to address our customers’ water concerns and contribute to the water security of our communities, our complementary portfolios and end market exposure position us even more firmly for growth.

Patrick Decker will serve as the team’s executive leader, and senior executives from both Xylem and Evoqua will be a part of it. Additionally, Lisa Glatch and Lynn C. Swann, both formerly employed as directors at Evoqua, have been chosen to join Xylem’s board of directors.

With more than 30 years of experience in top leadership positions in the public and commercial sectors of the energy, chemicals, environmental, water, and transportation industries, Glatch offers a strategic and financial perspective to the table. Swann is a seasoned member of public company boards and has held a variety of leadership positions within business, government, and philanthropic organizations.

Each share of Evoqua common stock was exchanged for the right to receive 0.48 of a share of Xylem common stock under the terms of the deal.

As a result, on a fully diluted basis, shareholders of Evoqua own roughly 25% and those of Xylem approximately 75% of the combined firm.

Gibson, Dunn & Crutcher LLP acted as Xylem’s legal counsel, and Lazard and Guggenheim Securities served as the company’s financial advisors. Evoqua received legal and financial advice from Jones Day, BofA Securities, and Goldman Sachs & Co. LLC.

Source: Xylem Inc

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