China’s Tri-Tech acquires Wisconsin desalination provider

Desalination and wastewater treatment provider J&Y International Inc, based in Wisconsin, USA, was acquired by subsidiaries of Tri-Tech Holding Inc of China on 9 June 2011.

J&Y was formed by Jim Schwartz and Yun Thom when they spun it off from desalination provider Aqua-Chem in 1999. The company designs and manufactures industrial chemical water-recovery systems, desalination plants, domestic and industrial wastewater treatment systems and reverse-osmosis filtration systems.

The purchase price is an amount up to US$ 1.5 million to be paid in up to four installments of cash and Tri-Tech stock, subject to an earn-out purchase price payment to be made based upon the earnings before interest, taxes, depreciation and amortization of the J&Y business through 31 December 2012.

Tri-Tech president Phil Fan said, “J&Y has developed superior desalination technology, which has enormous market potential. With this acquisition, Tri-Tech will have the technology to expand into the rapidly growing markets for seawater desalination, water reuse and zero liquid discharge, driven by increased scarcity of water resources.

“We expect the marketing power of Tri-Tech combined with J&Y’s superior technology will result in synergies that will enhance our overall competitive advantage,” Fan continued. “Tri-Tech is systematically acquiring unique technologies globally and building its technology portfolio and capabilities in the advanced water treatment and purification, and reuse fields.”