Germany-based civil and industrial construction, engineering and services group Bilfinger has entered into an agreement to buy US-based water technology specialist Johnson Screens, for an undisclosed amount.
The acquisition will allow Bilfinger to create a global supplier of components and services with regards to all areas of water and wastewater technology.
Bilfinger's acquisition comes after Switzerland-based oil and natural gas service company Weatherford International decided to part from its water technology business Johnson Screens as a part of its business strategy to focus on its core business.
The deal will double Bilfinger's output volume in the water and wastewater sector to over €300m ($399m) and increase its profitability, as Johnson Screens has an annual output volume of about €160m ($213m).
Johnson Screens produces mechanical components that separate solids from liquids and gases and are used widely to extract drinking water. They are employed in the oil and gas industry and in other industrial sectors for wastewater treatment.
The company also provides associated services with the components and mainly operates in the markets of North America, Europe and the Asia-Pacific region.
The acquisition will help Bilfinger to get access to new markets in growth regions.
In 2011, Bilfinger purchased Diemme, an Italy-based specialist manufacturer of chamber filter presses, as a part of its business strategy to grow its water technology business.