Evoqua pays $132 million for ProAct Services
Evoqua has acquired ProAct Services, a provider of on-site treatment services for contaminated industrial wastewater, for $132 million.
ProAct Services already works with Evoqua, enhancing its service capabilities in mobile and temporary water treatment, including industrial process wastewater, hydrostatic water, and coal ash ponds. The acquired firm combines engineering and field service technicians, and a proprietary fleet of modular equipment.
“The addition of ProAct Services’ 900 mobile assets, which use remote monitoring technology, will enhance our offer as a one-stop-shop for customers wanting temporary and mobile treatment solutions,” said Evoqua chief executive Ron Keating.
ProAct Services will operate as a separate division within Evoqua’s industrial segment, and will continue to be based in Michigan, US. The firm generated $12 million in earnings before interest, tax, depreciation and amortisation (EBITDA) on sales of $54 million in the year to 31 March 2018.