Acquisition worth approximately $1.5 million plus claim settlement
Basin Water, Inc. has acquired the bioreactor and biofilter business of Shaw Environmental & Infrastructure, Inc. for approximately $1.5 million in cash plus the settlement of a claim against Shaw for a financial consideration that Basin Water claims to be owed by Shaw.
The dispute involves a $5 million sale of ion exchange units and other water treatment systems by Basin Water to Shaw in December 2005. In settling this dispute, Shaw relinquishes whatever claims to or rights it may have under the 2005 purchase agreement generally, and in particular to the ion exchange units, Basin Water said in a press release.
The businesses acquired by Basin Water are involved in the design and supply of fluidized bed, membrane and suspended carrier bioreactors for the treatment of groundwater and wastewater streams in industrial, municipal and federal applications, and the design and supply of biofilters for the treatment of air streams from municipalities and industry for the removal of odor-causing and other contaminants.