Sep 05, 2007

Basin Water Signs Agreement To Acquire Mobile Process Technology, Inc.

Basin Water Inc. announced that it has signed a definitive agreement to acquire the stock of Mobile Process Technology Company (MPT). Subject to completion of certain ongoing customary and other closing conditions, the parties expect to close this transaction within the next few weeks.

The acquisition of MPT is expected to represent a synergistic expansion of Basin Water’s business in the municipal drinking water treatment market via smaller-capacity treatment systems and central regeneration facilities. It is also expected to accomplish geographical expansion for Basin Water and create a platform for entry into the industrial service market.

According to Mike Stark, president and chief operating officer of Basin Water, the MPT acquisition is an excellent fit with Basin Water’s strategies for regional expansion and for broadening its offerings to both municipal and industrial customers. “We have said in the past that it has been our goal to expand our business from our strong base in the West and Southwest to become a national provider of high quality water,” said Stark. “MPT’s position in the Eastern U.S. will give us an established footprint and customers in this region.”

In addition to serving as Basin Water’s outpost in the Southeast, the MPT Memphis facility is expected to function as a hub for the company’s developing activity in industrial markets.