M&A Deal Summary

Evoqua Acquires Proact Services

On June 20, 2018, Evoqua acquired environmental company Proact Services from HKW for 132M USD

Acquisition Highlights
  • This is Evoqua’s 3rd transaction in the Environmental sector.
  • This is Evoqua’s 2nd largest (disclosed) transaction.
  • This is Evoqua’s 10th transaction in the United States.
  • This is Evoqua’s 1st transaction in Michigan.

M&A Deal Summary
Date 2018-06-20
Target Proact Services
Sector Environmental
Buyer(s) Evoqua
Sellers(s) HKW
Deal Type Add-on Acquisition
Deal Value 132M USD

Target

Proact Services

Ludington, Michigan, United States
Proact Services Corp. is a provider of an innovative air and water treatment solutions customized to meet the requirements of specific environmental issues. Proact Services is based in Ludington, Michigan.

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Buyer(S) 1

Buyer

Evoqua

Pittsburgh, Pennsylvania, United States
Category Company
Founded 2014
Sector Environmental
Revenue 1.7B USD (2022)
DESCRIPTION

Evoqua provides water and wastewater treatment products, systems, and services for industrial and municipal customers. Its comprehensive, cost-effective, and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions, and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. Evoqua was founded in 2014 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 13 of 21
Sector (Environmental) 3 of 6
Type (Add-on Acquisition) 9 of 15
State (Michigan) 1 of 1
Country (United States) 10 of 17
Year (2018) 3 of 4
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-12 Pacific Ozone Technology

Benicia, California, United States

Pacific Ozone Technology, Inc. is a manufacturer of advanced ozone disinfection systems, testing products and support services for a wide range of industrial applications. Pacific Ozone Technology is based in Benicia, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-04 The IsH2Otop Group

Vaudreuil-Dorion, Quebec, Canada

The IsH2Otop Group is a provider of high-purity water treatment equipment and systems, equipment maintenance services and service deionization. The IsH2Otop Group was founded in 1993 and is based in Vaudreuil-Dorion, Quebec.

Buy -

Seller(S) 1

SELLER

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.

DEAL STATS #
Overall 31 of 38
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 16 of 19
State (Michigan) 3 of 3
Country (United States) 27 of 30
Year (2018) 2 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-21 Specialized Desanders

Calgary, Alberta, Canada

Specialized Desanders is a oilfield equipment company that specializes in engineering, assembling, distributing, and servicing patented, high-pressure equipment that efficiently removes sand and other solids during the well flowback and production process. Specialized Desanders has longstanding relationships with top Canadian E&P firms and has been growing rapidly in the U.S. market. The Company was co-founded by Chris Hemstock in 2001 and has built a world-class reputation for technical innovation, reliability, and service. Specialized Desanders was founded in 2001 and is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-10 Indigo Wild

Kansas City, Missouri, United States

Indigo Wild is a manufacturer and distributor of bath, skin, home, and cleaning products, including the Zum product line, best known for its popular Zum Bar goat’s milk soap. Indigo Wild was founded in 1996 and is based in Kansas City, Missouri.

Buy -
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