Siemens Water Technologies becomes Evoqua
As the dust settles on negotiations by AEA Investors to acquire Siemens Water Technologies, a new name is given to the municipal, industrial and services water and wastewater treatment specialist, and Evoqua Water Technologies is born.
Costing €640m, AEA Investors’ purchase of Siemens Water Technologies puts 45 years of investing experience behind Evoqua, which will continue to focus on industrial water and wastewater treatment equipment and services for a wide range of industries.
The existing Siemens management under the leadership of CEO Dr Lukas Loeffler will remain.
“AEA Investors is pleased to complete this acquisition and move forward with management to execute its plan to grow the business and maximise the potential of this industry leader,” said AEA partner Brian Hoesterey, who explained that the name Evoqua originates from ‘evoke,’ meaning to recreate imaginatively, as well as ‘evolve’, which symbolises the ongoing evolution of the water industry company, combined with a shortened version of ‘aqua’.
“The management and 4,000 employees of Evoqua are committed to refocusing our culture on adding value for customers,” Dr Loeffler said. “The AEA primary professionals interfacing with us have years of water, specialty chemicals and industrial experience. Combined with our expertise, proven legacy brands and advanced water and wastewater treatment technologies, the company is well positioned for its next evolution to helping our customers achieve success.”
