{"id":600861,"date":"2023-01-24T18:52:28","date_gmt":"2023-01-25T00:52:28","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/24\/xylem-to-acquire-evoqua-in-7-5-billion-all-stock-transaction\/"},"modified":"2023-01-24T18:52:28","modified_gmt":"2023-01-25T00:52:28","slug":"xylem-to-acquire-evoqua-in-7-5-billion-all-stock-transaction","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/24\/xylem-to-acquire-evoqua-in-7-5-billion-all-stock-transaction\/","title":{"rendered":"Xylem To Acquire Evoqua in $7.5 Billion All-Stock Transaction"},"content":{"rendered":"
\n

WASHINGTON, DC \u2014\u00a0Xylem Inc. (NYSE: XYL), a leading global water technology company (\u201cXylem\u201d), and Evoqua (NYSE: AQUA),\u00a0a leader in mission-critical water treatment solutions and services, today announced they have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5 billion.\u00a0<\/p>\n

As water risks rise in global importance, this transaction unites two companies with a shared focus on solving the world\u2019s water challenges by addressing customers\u2019 and communities\u2019 most critical needs. Building on Xylem\u2019s global leadership in water solutions and Evoqua\u2019s leadership in advanced treatment solutions and services, the combined company will be uniquely positioned to develop and deliver an even more comprehensive offering of innovative solutions.\u00a0<\/p>\n

Evoqua, a leader in North America water treatment, complements Xylem\u2019s distinctive portfolio of solutions with advanced water and wastewater treatment capabilities, a powerful and extensive network of service professionals and access to a number of attractive industrial markets with resilient, recurring revenue streams. Evoqua\u2019s solutions, including digitally enabled offerings, optimize and outsource mission-critical water treatment systems for customers in high-growth sectors such as life sciences, microelectronics, power and food and beverage. In addition, Evoqua is a leader in the remediation of emerging contaminants, including PFAS.<\/p>\n

Xylem and Evoqua generated over $7 billion in combined revenue in the 12-month period ending September 30, 2022, with $1.2 billion in adjusted EBITDA. The combination unlocks compelling new growth opportunities and is expected to deliver run-rate cost synergies\u00a0of $140 million\u00a0within three years, driven by scale efficiencies in procurement, network optimization and corporate costs. In addition, the transaction allows Xylem to maintain its strong balance sheet, which provides the combined company with significant strategic flexibility and optionality.<\/p>\n

Complementary Businesses<\/h3>\n

“Solving the world\u2019s water challenges has never been more urgent. Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability and resilience at even greater scale,\u201d said Patrick Decker, President and CEO of Xylem. \u201cThe combined company delivers an unparalleled portfolio of advanced technologies, integrated services and application expertise\u00a0across the water cycle.\u201d<\/p>\n

\u201cTogether, our complementary businesses will be even more strongly positioned to help our customers and communities tackle their most challenging water needs,\u201d continued Decker. \u201cWe are excited about building the world\u2019s most powerful platform for solving water alongside our Evoqua colleagues.\u201d\u00a0<\/p>\n

\u201cJoining forces with Xylem is an exciting opportunity for\u00a0Evoqua\u00a0and for our team members. This combination provides a platform to leverage our combined strengths and increase our impact to better address the most pressing and increasingly complex global water challenges,\u201d said Ron Keating,\u00a0Evoqua’s President and CEO. “I am incredibly proud of what our team at\u00a0Evoqua\u00a0has achieved to date, providing mission-critical water treatment solutions to the market and for our customers. Along the way, we have earned a reputation for quality, safety and reliability around the world. Together with Xylem, we will drive innovation on a larger scale for our customers, positioning us to create even more value for our stakeholders.\u201d<\/p>\n

Transaction Details\u00a0<\/h3>\n

Evoqua shareholders will receive 0.480 shares of Xylem for each Evoqua share, representing a value of $52.89 per share or a 29 percent premium based on Xylem and Evoqua closing prices as of January 20, 2023.\u00a0<\/p>\n

The transaction, which is anticipated to close in mid-2023, is subject to approval by shareholders of Xylem and Evoqua, the receipt of required regulatory approvals and other customary closing conditions.<\/p>\n

Upon closing, Xylem shareholders will own approximately 75 percent and Evoqua shareholders will own approximately 25 percent of the combined company on a fully diluted basis.\u00a0<\/p>\n

Following the closing, the combined company will continue to be led by Patrick Decker, Xylem\u2019s President and CEO. Two current members of the board of directors of Evoqua are expected to join Xylem\u2019s board of directors.<\/p>\n<\/div>\n

Read More<\/a>
\n Maribel Motsinger<\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON, DC \u2014\u00a0Xylem Inc. (NYSE: XYL), a leading global water technology company (\u201cXylem\u201d), and Evoqua (NYSE: AQUA),\u00a0a leader in mission-critical water treatment solutions and services, today announced they have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5 billion.\u00a0As water<\/p>\n","protected":false},"author":1,"featured_media":600862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27493,118364],"tags":[],"class_list":["post-600861","post","type-post","status-publish","format-standard","has-post-thumbnail","category-acquire","category-xylem"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/600861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=600861"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/600861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/600862"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=600861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=600861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=600861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}