Xylem completes $7.5B deal for Evoqua

Xylem wrapped up its acquisition of Evoqua Water Technologies Corp., a water treatment solutions and services provider, in a deal valued at about $7.5 billion.

As Xylem describes, the combined company is now the world’s largest pure-play water technology company with $7.3 billion in pro forma revenue and more than 22,000 people employed around the world.

The combined company is headquartered in Washington, D.C.

“Today is an exciting milestone as we formally welcome our new colleagues to Xylem and bring the power of our combined capabilities to bear for our customers and communities every day,” says Patrick Decker, president and CEO of Xylem. “Our complementary portfolios and end-market exposure position us even more strongly for growth together as we solve our customers’ water challenges and help make our communities more water-secure.”

Decker will lead the combined company’s executive leadership team, which will include senior leaders from both Xylem and Evoqua. Additionally, Xylem appointed Lisa Glatch and Lynn Swann, former Evoqua directors, to serve as members of its board of directors.

As Decker describes, global awareness of water as a systemic risk to society has never been greater.

“Investment in water solutions continues to accelerate as communities and businesses around the world address intensifying challenges like water scarcity, quality and resilience to climate change – and how to address these issues in an affordable way,” he says. “Our combination with Evoqua creates a transformative global platform to solve these critical water challenges at an even greater scale. Together, we are uniquely positioned to help meet customers’ mission-critical needs with an unmatched portfolio of products and services across the water cycle.”