Editor's Note: Each week, Water & Wastes Digest will post an aggregate of business news briefs and networking news items to keep you informed on facility openings, business mergers and purchases, changes in personnel and award notifications, among others in the water and wastewater treatment industries. If you have business news briefs you would like included in this weekly round up, please email the press release, photo and a link to the post on your website to [email protected] with the subject line "Business News Round Up." One news item per company per week will be posted.
Ostara Acquires Assets of Multiform
Ostara Nutrient Recovery Technologies Inc. (Ostara) and Multiform Harvest Inc. (Multiform) has announced the closing (Closing) of the acquisition (Acquisition) by Ostara, of substantially all of the assets of Multiform pursuant to an Asset Purchase Agreement (Agreement) entered into by Ostara, Multiform and key shareholders of Multiform on Aug. 24, 2018. Pursuant to the Agreement, Ostara paid a portion of the purchase price at Closing and will deliver the remainder in two equal post-Closing payments by mid-2019. Closing of the Acquisition occurred on Dec. 21, 2018.
Ostara engaged industry expert Dr. Keith Bowers, President & CTO and co-founder of Multiform, to help lead the integration of the technology offerings obtained in the Acquisition, evaluate and pursue new market opportunities, and provide ongoing design and operational support.
Rockwell Automation Named Overall IoT Company of the Year
IoT Breakthrough technologies and products in the global Internet of Things (IoT) market, has announced Rockwell Automation as the winner of the “Overall IoT Company the Year” award in the global 2019 IoT Breakthrough Awards program.
The mission of the IoT Breakthrough Awards program is to recognize the innovators, leaders and visionaries from around the globe in a range of IoT categories, including Connected Home and Home Automation, Industrial and Enterprise IoT, Smart City technology, Connected Car and many more. This year’s program attracted more than 3,500 nominations from companies all over the world.
Franklin Electric Acquires Milan Supply
Franklin Electric Co., Inc. has announced that it has acquired Milan Supply Company of Mt. Pleasant, Michigan for $5.9 million. Milan is a professional groundwater distributor operating six locations in the State of Michigan. Milan has approximately $22 million of consolidated annual sales.
"We are pleased to add Milan Supply to the Headwater family. The team at Milan has served the pump industry and related water resource markets for over 50 years and has an outstanding reputation with their customers for technical capability and service,” said DeLancey Davis, President of Headwater Companies. “The acquisition of Milan adds to Headwater's commitment to the important Michigan groundwater market and further fulfills our objective of being the leading source in groundwater systems distribution in the U.S."