Sulzer has announced that it has acquired JWC Environmental, a leading provider of highly engineered, mission-critical solids reduction and removal products.
The transaction allows Sulzer to grow its wastewater treatment offering through complementary equipment and improves its access to the municipal and industrial wastewater market in North America.
In addition, Sulzer intends to strongly pursue and support JWC’s geographic expansion into markets in Europe, the Middle East and Africa (EMEA), as well as Asia.
Significant sales synergies are expected through growth in JWC’s markets outside North America. JWC Environmental will operate as part of Sulzer’s Pumps Equipment division.
An enterprise value of $215 million adjusted for an acquired tax asset corresponds to a multiple of approximately ten times 2018 earnings before interest, taxes, depreciation and amortisation (EBITDA).
JWC Environmental is headquartered in Santa Ana, California, and employs around 230 people. Its product portfolio includes grinders, screens and dissolved air flotation system for municipal, industrial and commercial wastewater applications.