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Badger Meter Mergers & Acquisitions

Badger Meter M&A Summary

Badger Meter has acquired 12 companies, including 3 in the last 5 years. A total of 1 acquisition came from private equity firms.

Badger Meter’s largest acquisition to date was in 2025, when it acquired SmartCover Systems for $185M. Badger Meter has acquired in 8 different US states, and 4 countries. The Company’s most targeted sectors include distribution (34%) and test/measurement equipment (34%).

M&A Summary

  • M&A Total Activity12
    • M&A Buy Activity12
  • Total Sectors Invested 6
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 1

Badger Meter

Badger Meter, Inc.

4545 West Brown Deer Road PO Box 245036,
Milwaukee, Wisconsin 53224
United States,
(414) 355-0400
www.badgermeter.com

All (12) Buy (12) Sell (-)
Date Target Value
$mlns 		Transaction Type Acquirer Seller SRC
Link
2025-01-31 SmartCover Systems · Environmental
Escondido, California · www.smartcoversystems.com

SmartCover transforms real-time remote infrastructure data into insights helping utility customers minimize OpEx, reduce CapEx, and improve environmental performance. The company's remote monitoring and controls for sewer, lift stations and stormwater infrastructure enable utilities to eliminate overflows, optimize collection system cleaning, minimize H2S odors, accurately identify inflow and infiltration, and efficiently operate pump stations. Its solutions allow users to convert reliable and accurate data into actionable outcomes enhancing performance, reducing costs, and maximizing resources. SmartCover Systems is based in Escondido, California.

Revenue (mlns) 35 USD
185
5.3x REVENUE 		Add-on Acquisition

Badger Meter

XPV Water Partners PE


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