Kemira Buys Water Engineering for $150M to Expand Water Solutions
Kemira has agreed to buy Water Engineering, Inc. for around USD 150 million in cash, subject to adjustments. The deal, expected to close in 2025, will expand Kemira's Water Solutions business into industrial water treatment services.
Kemira, an international chemicals company, has signed a purchase agreement to acquire Water Engineering, Inc. The transaction is expected to close before the end of 2025, subject to regulatory approvals and customary closing conditions.
Water Engineering specializes in boiler and cooling tower water treatment, as well as industrial wastewater treatment for sectors like food and beverage, manufacturing, and healthcare. The acquisition will allow Kemira to expand its Water Solutions business into these industrial water treatment services. Tuija Pohjolainen-Hiltunen, Kemira's Executive Vice President, Water Solutions, sees this as a key milestone in their strategy to double water revenue and establish a strong position in this growing sector.
David Wagenfuhr, CEO of Water Engineering, Inc., expressed excitement about joining Kemira and scaling their service capabilities. The completion of the acquisition is expected in the first quarter of 2024.
Kemira's acquisition of Water Engineering, Inc. for approximately USD 150 million will expand its Water Solutions business into industrial water treatment services. The deal, expected to close in 2025, is seen as a key strategic move to grow Kemira's water revenue and strengthen its position in a faster-growing market.
