USFILTER SELLS WATERWORKS DISTRIBUTION UNIT
- Book ID
- 104396521
- Publisher
- Elsevier Science
- Year
- 2002
- Tongue
- English
- Weight
- 46 KB
- Volume
- 2002
- Category
- Article
- ISSN
- 1359-6128
No coin nor oath required. For personal study only.
✦ Synopsis
is selling its waterworks distribution business to a company jointly owned by JPMorgan Partners, and Thomas H Lee Partners, a Boston-based private equity firm.
The US$620 million cash sale is part of USFilter's strategy to divest non-core assets and focus on its water-wastewater equipment and services businesses as well as consumer and commercial activities.
USFilter's waterworks distribution business supplies pumps, pipes, hydrants, valves and meters through more than 140 sales and service centres in the US. Total annual sales in 2001 were approximately US$1.1 billion. The deal is expected to be completed during the fourth quarter.
With the sale of the waterworks distribution group, USFilter's total year-to-date proceeds from the divestiture of non-core assets will be more than US$1 billion. USFilter recently signed an agreement to sell its Plymouth Products consumer products subsidiary to Pentair (see News, p11) having sold its filtration and separations group earlier this year.
KSB HELPS TO FIGHT THE FLOODS
KSB has been providing free help to flood-stricken regions in Germany, Austria and the Czech Republic. The Frankenthal-based pump manufacturer sent in its own service teams and service partners to help pump out basements and buildings and a hotline was set up so that relief workers could order pumps from KSB's rental service.