Culligan wraps up $1.1bn acquisition of AquaVenture

Water solutions company Culligan has completed its acquisition of AquaVenture for  approximately $1.1bn, in an all-cash transaction worth $27.10 per share.

Under the terms of the agreement, AquaVenture will join Culligan’s consumer water service and solutions platform as a privately held firm.

AquaVenture is a multinational provider of sustainable Water-as-a-Service (WAAS) solutions that offers customers cost-effective source of clean drinking water. It processes water essentially under long-term contracts that reduce capital investment by the customer.

The company consists of two operating platforms, Quench and Seven Seas Water.

Quench provides filtered water systems and related services with nearly 160,000 company-owned units installed at institutional and commercial customer locations across the US and Canada.

On the other hand, Seven Seas Water offers desalination and wastewater treatment solutions, providing over 8.5 billion gallons of potable, high purity industrial grade and ultra-pure water annually to governmental, municipal, industrial and hospitality customers.

After the merger agreement signed on 23 December last year, AquaVenture president and CEO Anthony Ibargüen had said: “We are pleased to reach this agreement to join forces with Culligan and its leading presence in the global water industry, and believe it delivers compelling value to all AquaVenture stakeholders.

“Our leadership team is proud of the development and success of AquaVenture, and excited for what our employees can accomplish in partnership with Culligan in the future”.

Culligan CEO Scott Clawson had said: “AquaVenture is a leading player in water purification solutions with a strong record of innovation.

“We are excited to work with the AquaVenture team and look forward to the many opportunities ahead.”

Established in 1936 by Emmett Culligan, Culligan provides water solutions that will enhance the lives of its customers. 

The firm offers technologically advanced, state-of-the-art water filtration and treatment products.

The company’s portfolio comprises water softeners, drinking water systems, whole-house systems and solutions for businesses.