The city of Modesto, Calif., agreed to pay a $165,000 fine...
The company will continue focus on municipal & industrial water & wastewater treatment equipment & services
AEA Investors LP has signed an agreement to acquire the municipal and industrial water and wastewater treatment operations and assets of Siemens Water Technologies for 640 million Euros ($865 million). The transaction is still subject to regulatory approval.
AEA focuses on control buyouts in four industry sectors: value-added industrial products; specialty chemicals; consumer products/retail and services.
Working with AEA investment professionals and operating partners, the existing management, under the leadership of CEO Dr. Lukas Loeffler, will remain to ensure continuity of the ongoing successful integration and optimization of Water Technologies’ operations and assets. Siemens AG acquired the company in 2004 and will continue oversight until change of control, anticipated within the next few months.
Under AEA, the company will continue to focus on municipal and industrial water and wastewater treatment equipment and services.
“We look forward to a new chapter of increased entrepreneurship, flexibility and growth for Water Technologies,” Loeffler said. “Together with AEA, we will continue building on our wide range of enduring brands and advanced water and wastewater treatment technologies to help our customers more cost-effectively meet their water needs now and in the future.”