Evoqua Acquires Smith Engineering For Undisclosed Sum

  • Evoqua Water Technologies Corp AQUA has agreed to acquire privately-held Smith Engineering, Inc. Deal terms were not disclosed.
  • The company expects the acquisition to enhance its high purity water treatment systems portfolio and expand its service footprint in North America.
  • Smith Engineering, headquartered in Chaska, Minnesota, offers a variety of water treatment products and services, including filtration, UV, reverse osmosis, and deionization, and has ~1,200 customers in North America.
  • The transaction is expected to close in 4Q22. Smith Engineering will be part of Evoqua's Integrated Solutions and Services segment.
  • Evoqua held cash and equivalents of $129.5 million as of March 31, 2022.
  • Price Action: AQUA shares are trading lower by 0.64% at $30.96 on the last check Wednesday.
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