AEA Investors LP Completes Acquisition Of Siemens Water Technologies; New Company To Be Evoqua Water Technologies
AEA Investors LP has secured regulatory approvals and closed on an agreement to acquire the municipal, industrial and services water and wastewater treatment operations and assets of Siemens Water Technologies LLC. The new company now will be Evoqua Water Technologies LLC.
AEA announced its purchase of Siemens Water Technologies from Siemens AG for EUR 640 million on Nov. 6, 2013.
With more than 45 years of investing experience, AEA has an established track record of achieving superior returns as a leading private equity partner to middle market companies. AEA focuses on control buyouts in four industry sectors: value-added industrial products; specialty chemicals; consumer products/retail and services.
Under AEA, Evoqua will continue to offer municipal and industrial water and wastewater treatment equipment and services. The existing management under the leadership of CEO Dr. Lukas Loeffler will remain. Evoqua originates from the definition of "evoke" to re-create imaginatively, as well as "evolve," symbolizing the ongoing evolution of one of the great water industry leaders combined with a shortened version of “aqua.” It is pronounced e (long “e”) vo (long “o”) qua.
“AEA Investors is pleased to complete this acquisition and move forward with management to execute its plan to grow the business and maximize the potential of this industry leader,” said AEA Partner Brian Hoesterey.
“The management and 4,000 employees of Evoqua are committed to refocusing our culture on adding value for customers,” Loeffler said. “AEA’s primary professionals interfacing with us have years of water, specialty chemicals and industrial experience. Combined with our expertise, proven legacy brands and advanced water and wastewater treatment technologies, the company is well-positioned for its next evolution to helping our customers achieve success.”
About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 highly successful business executives, industrial families and former government leaders. Today, AEA’s over 65 investment professionals operate globally with offices in New York, Connecticut, London, Munich, Hong Kong and Shanghai. The firm manages funds that have $6 billion of invested and committed capital including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer products/retail and services.
About Evoqua Water Technologies LLC
Evoqua Water Technologies, formerly Siemens Water Technologies, is a leader in water and wastewater treatment products, systems and services for industrial and municipal customers. Its comprehensive, cost-effective and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. For more information, visit www.evoqua.com.
SOURCE: Evoqua Water Technologies