Layne Christensen Co. announced the acquisition of Intevras Technologies LLC, a privately held holding company of Industrial Water Treatment Processes located in Austin, Texas. Boenning & Scattergood provided investment banking services to Intevras and served as exclusive sell-side financial advisor to the company in connection with this transaction. The acquisition purchase price was $5.5 million plus future incentives, and was funded from Layne Christensen’s current cash balances and net of cash. Layne Christensen remains debt free.
Intevras Technologies LLC is based in Austin, Texas, and is focused on the treatment, filtration, handling and evaporative crystallization and disposal of industrial wastewaters. With two primary technologies, the EVRAS Evaporative System and the Integra Automated Disk Filtration System, Intevras’ recent activities in the Barnett and Marcellus Shales make it active in the treatment and disposal of heavy brine waters in the oil and gas markets.
The Integra filter provides solids separation to the 5-micron particle size, and the EVRAS technology provides mobile thermal reduction, concentration, and solidification of industrial waste streams. The capability of the INTEGRA filter to remove solids to such low levels combined with the ability of the EVRAS units to employ waste heat in the evaporative process is a plus, the company said.
Additionally, a small footprint, combined with mobility allow for this technology to be applied to shale gas water treatment, as well as power, food and beverage, and municipal applications dealing with reuse and waste minimization. “This acquisition is strategically aligned with Layne’s focus on industrial water treatment and residuals management; and these products further our ability to offer innovative solutions and total water management services to our clients,” said Greg Aluce, Div. president.
“This is an exciting time for all of us at Intevras,” said Thomas Lucario, CEO of Intevras. “With James J. Harris, the founder and inventor of our technology, I look forward to being part of the Layne Industrial Water Solutions Group. The resources, experience and customer base that Layne provides will help us expand our market base not only in the oil and gas industry but in other industries as well. We hope to make Layne the leader in zero liquid discharge applications.”
Layne Christensen Co.'s Water Resources Div. provides capabilities encompassing expertise in geosciences, well drilling, pumps, water transmission infrastructure and water treatment. The company offers treatment technologies for the removal of arsenic, iron, manganese, radionuclides, perchlorate, nitrate and volatile organic contaminants.
Source: Layne Christensen Co.