Pure Technologies buys Wachs Water Services in US

Pure Technologies subsidiary Pure Holding has acquired Wachs Valve and Hydrant Services for $18.5m.

Wachs Valve and Hydrant Services offers water utility services as Wachs Water Services in the US.

Based in Illinois, Wachs Water provides flow control maintenance and support, leak detection, and related asset management services across the water sector in the country.

As part of the deal, Pure Holding will pay $13.5m in cash, while the rest $5m will be paid in form of common shares, Pure Technologies informed.

The transaction is expected to close by the second quarter of 2015.

Pure president and CEO said Jack Elliott said: "This important acquisition further diversifies Pure’s business in the US water sector, broadens our client base especially in the small and medium-sized utility space, and provides us with complementary revenue streams in related pipeline management activities.

"It also brings to Pure significant management capability, and enhanced business development and field services resources."

Pure senior vice president for the Americas Michael Higgins said: "Wachs Water’s expertise in pipeline valve, hydrant and distribution systems management greatly expands our overall offering.

"Our respective water utility clients will benefit from an enhanced and integrated solution set which includes Pure’s proprietary inspection and monitoring technologies."

Wachs Water co-founder and president Cliff Wilson said: "Together, we will be in a unique position to help utilities solve underlying and fundamental underground aging infrastructure challenges."