WD News: Evoqua Water Technologies has entered into a definitive agreement to divest its carbon reactivation and slurry operations to DESOTEC, the European market leader for industrial mobile filtration solutions based on activated carbon technology.
The agreement, which includes the product line’s workforce, reactivation facilities, and associated equipment, and the reactivation and carbon vessel manufacturing facility, is expected to close during Evoqua’s third quarter of fiscal 2023, which ends June 30, 2023. The gross proceeds upon closing of the transaction are anticipated to be approximately USD 100 million.
Carbon is typically used in municipal and industrial applications to remove organic and inorganic contaminants from water sources.
“A critical aspect of our strategy is to focus on businesses aligned with our technology and service core competencies, with the highest potential for global growth, scalability, and value creation,” said Ron Keating, Chief Executive Officer of Evoqua.
Julie Santens, Chief Executive Officer of DESOTEC, added, “This is the first step as we embark on the rollout of our North American growth strategy and further expansion of our leading market position.”
Source & image courtesy: Evoqua Water Technologies
