AEA Investors has closed on the acquisition of the water and wastewater treatment operations and assets of Siemens Water Technologies for €640 million or $870 million. Upon closing of the transaction the company was renamed Evoqua Water Technologies. Existing management of the company including Dr. Lukas Loeffler, CEO, will continue to run the business.
Evoqua Water Technologies is a provider of water and wastewater treatment products, systems and services for industrial and municipal customers. The company was founded as US Filter in 1990 and was acquired by Siemens in 2004. Evoqua Water Technologies is headquartered in Alpharetta, GA (www.water.siemens.com).
“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.
AEA manages approximately $6 billion of invested and committed capital in funds dedicated to three purposes: buyouts of middle market companies operating in the industrial, specialty chemical, consumer products and consumer services sectors; buyouts of smaller middle market companies in these same sectors; and mezzanine and senior debt investments. AEA was founded in 1968 and is based in New York with offices in London, Munich, Hong Kong, and Shanghai (www.aeainvestors.com).
“AEA’s primary professionals interfacing with us have years of water, specialty chemicals and industrial experience,” said Dr. Loeffler. “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.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-16-14