Acquisition Expands Aquarion's Global Reach, Revenues and Capabilities, Positions Hager + Elsaesser for Growth
Baar, Switzerland /PRNewswire/ - Aquarion Group (Aquarion AG), a global water treatment solutions provider, has acquired the assets of Hager + Elsaesser GmbH, based in Stuttgart, Germany, one of Europe's leading water technology companies and solutions providers for a wide range of industries.
With this acquisition, Aquarion Group becomes a major player in the global water treatment business with more than 250 employees, more than 70 million € in annual revenues, and many international subsidiaries. Other Aquarion Group companies include Aquarion Water GmbH in Germany, GEMWATER s.r.l. in Italy and H2Oil & Gas Ltd in Scotland.
Hager + Elsaesser (H+E) systems and solutions for industrial process water and wastewater treatment and resource recovery are installed in thousands of plants in more than 160 countries around the world. H+E focuses on the following industries: semiconductor and microelectronics, power generation, petrochemical (downstream), solar, pulp and paper, food and beverage production, and pharmaceuticals. Flagship technologies include proprietary biological, thermal and membrane solutions.
The acquisition restores the financial strength and stability of H+E and also retains approximately 140 jobs. H+E has an assembling workshop in Dresden, Germany and subsidiaries in UK, Malaysia, Philippines, Singapore and Thailand.
"This acquisition is an important development for Aquarion, enhancing our portfolio of technologies and solutions, expanding our presence around the world, and adding the expertise and experience of this world-leading company to our existing team," said Karl Michael Millauer, CEO of Aquarion.
Thomas Will, Chief Operating Officer of Aquarion AG and former Managing Director of Hager + Elsaesser, will run H+E as its Chief Executive Officer. "Hager + Elsaesser, which was founded more than 80 years ago, has an outstanding reputation for its industrial water treatment solutions and excellence in project execution. H+E is fully focused on industries, especially on oil & gas, energy and other heavy industries as well as on their established niche markets," he said.
Terms of the acquisition were not disclosed.
About Aquarion Group (Aquarion AG)
Headquartered in Switzerland, Aquarion is an EPC solution provider for a wide range of water treatments for various industries (pure water, waste water and recycling /reuse), integrating the most advanced technologies into its offered solutions.
About Hager + Elsaesser
Headquartered in Stuttgart for over 80 years, Hager + Elsaesser is a leading manufacturer of equipment for process and ultrapure water and wastewater treatment for various industries.
SOURCE: Aquarion Group (Aquarion AG)Copyright 2014 PR Newswire. All Rights Reserved