Xylem Inc has entered into a definitive agreement to acquire Evoqua Water Technologies Corp, the water treatment solutions and services company, in a US$7.5 billion all-stock transaction.
Evoqua complements Xylem’s portfolio of solutions with advanced water and wastewater treatment capabilities, an extensive service network and access to a number of attractive industrial markets including life sciences, microelectronics, power and food and beverage. The company is also a leader in the remediation of emerging contaminants, including PFAS.
The two companies had combined revenues of over US$7 billion in the 12-month period ending 30 September 2022.
Following the closing, the combined company will continue to be led by Patrick Decker, Xylem’s president and CEO. Two current members of Evoqua’s board of directors are expected to join Xylem’s board.