Leading pumping solutions provider Sulzer has announced that the company has finalised the acquisition of US-based firm JWC Environmental LLC (JWC).
JWC is a leading provider of highly engineered, mission-critical solids reduction and removal products such as grinders, screens, and dissolved air flotation system for municipal, industrial and commercial wastewater applications.
The transaction allows Sulzer to grow its wastewater treatment offering through complementary equipment, as well as to improve its access to the municipal and industrial wastewater market in North America.
Furthermore, Sulzer intends to strongly pursue and support JWC’s geographic expansion into markets in EMEA and Asia.
Significant sales synergies are expected through growth in JWC’s markets outside North America. JWC will operate as part of Sulzer’s Pumps Equipment division.
The enterprise value of $215m adjusted for an acquired tax asset corresponds to a multiple of approximately 10x 2018 earnings before interest, taxes, depreciation, and amortisation (EBITDA).
JWC is headquartered in Santa Ana, California, US, and employs around 230 people.
Please contact Sulzer via the enquiries form for more information.