H2O Innovation Inc. announced this week that it has entered into a binding agreement to acquire Utility Partners, LLC (“Utility Partners”), a U.S.-based company specializing in the operation and maintenance of water and wastewater treatment plants.
The company currently operates thirty-four plants in six US states, mainly on the US Gulf coast, Southeast, Northeast (New England) and the West Coast (California/Nevada). The purchase price is US$17.0 million.
Frédéric Dugré, president and CEO of H2O Innovation said, “The acquisition of Utility Partners is a significant step to building H2O Innovation’s third business pillar, the operation and maintenance of water and wastewater treatment systems. The acquisition will help us better serve our existing clients through a stronger service and product offering tailored to meet their needs. Utility Partners and its team of managers and professionals will be a significant asset for H2O Innovation. We expect this alliance to open the door to a new market and create several cross-selling opportunities between our business lines.”
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