CECO Environmental Acquires Index Water For Undisclosed Sum

CECO Environmental Acquires Index Water For Undisclosed Sum
  • CECO Environmental Corp. CECE has acquired substantially all of the assets of Index Water, expanding its water treatment solutions portfolio serving the Middle East region. Deal terms were not disclosed.
  • This acquisition adds new customers, intellectual property, and depth to the technology stack. CECO strengthens its water treatment solutions with this acquisition, coupled with the recently announced acquisition of GRC.
  • RelatedCECO To Acquire Rubber Expansion Joints Manufacturer GRC For Undisclosed Sum
  • "With the addition of the Index Water assets, we have expanded our leadership presence and addressable water market in more than 10 countries by at least $200 million, and it allows us to further leverage the brand and capabilities across the globe," said CEO Todd Gleason.
  • CECO Environmental held $32 million in cash and equivalents as of December 31, 2021,
  • Price Action: CECE shares traded lower by 3.94% at $4.88 on the last check Thursday.

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