- From: Vol 13, Issue 7 (July 2012)
- Category: Brief
- Region: Americas
Canada and United States
- Related Companies: Aqua America, Axine Water Technologies, Cal Water, Calgon Carbon, Chrysalix Energy Venture Capital, Connecticut Water, Lanxess Corporation, McLaughlin Water Engineers, Merrick & Company, Pentair, Phoenix Services, LLC., Quantum Energy Partners, Tyco and Xylem
* Xylem has further bolstered its analytics business by acquiring Danish company MJK Automation A/S for DKK75 million ($12.3 million), equivalent to around 1.15 times sales. MJK manufactures flow sensors, as well as measurement and control technology for water and wastewater applications.
* The European Commission has cleared Pentair’s proposed acquisition of Tyco International’s flow control business. The closing of the merger remains subject to approval by both companies’ shareholders, as well as other foreign regulatory approvals.
* Canadian wastewater treatment start-up Axine Water Technologies has raised $1.47 million from several investors, including Wal van Lierop, CEO of Chrysalix Energy Venture Capital. Axine claims that its low-cost wastewater solution can oxidise “toxic, recalcitrant organics, ammonia and pathogens in a single step without chemicals and without producing sludge”.
* Connecticut Water has filed a registration statement to issue 1.7 million shares at $29.34 each, in order to raise $49,878,000. The application is thought to be linked to the acquisition of Aqua America’s regulated operations in Maine, which was completed on 1st January.
* Earlier this month, Cal Water filed a general rate case in California requesting rate increases which would add revenues of $92.7 million in 2014, $17.2 million in 2015, and $16.9 million in 2016. The company expects a decision in late 2013.
* Private equity firm Quantum Energy Partners has acquired a majority stake in Houston-based oilfield services company Phoenix Services, LLC. Phoenix provides fluids management and wellsite services – including water transfer services and frac tank rentals – in the Eagle Ford, Permian, Barnett and Marcellus shales.
* Calgon Carbon has appointed Randall S. Dearth as its new president and CEO. Dearth, currently CEO of Lanxess Corporation, will replace retiring Calgon Carbon CEO John Stanik on 1st August.
* Employee-owned engineering firm Merrick & Company has acquired Colorado based McLaughlin Water Engineers.