Evoqua Water Technologies signs agreement to purchase Neptune Benson
Evoqua Water Technologies has signed a definitive agreement to purchase Neptune Benson for an undisclosed amount.
The privately held Neptune Benson produces water filtration and disinfection products, which are used by industrial, municipal and recreational water markets in the US.
Established as a residential and small commercial pool company in 1956 by Junius and Raymond Gertz, Neptune Benson later shifted its focus to filtration systems for institutional pools larger than 250,000gal.
Dependent on customary regulatory approvals, the acquisition is expected to be completed in the first quarter of 2016.
Neptune Benson's filtration and ultra-violet disinfection products have been installed in more than 20,000 facilities across 45 countries.
It has rolled out a range of new products that include Defender regenerative media filter.
Evoqua CEO Ron Keating said: "Neptune Benson's filtration and disinfection products have been well regarded in the industry since 1956 and complement Evoqua's existing businesses and markets-served extremely well.
"This addition is a natural fit for us and consistent with our growth plan to double our business by the end of 2021."
Neptune Benson has acquired several companies such as ETS-UV, a company involved in the development and production of ultraviolet disinfection systems. It has also bought Lawson Aquatics, which produces main drain and rim-flow system components, as well as the ProStrainer product line, and Sonitec filtration products for industrial process markets.
Currently, 110 people are employed with Neptune Benson across four operations in Beaver Dam, Bridgeport, Coventry and Montreal.
Neptune Benson CEO Ken Rodi said: "We are enthusiastic to join the Evoqua team.
"Not only are our businesses and markets complementary, but so is Evoqua's commitment to growth, spirit of innovation, and focus on helping its customers and partners to succeed."
Image: Neptune Benson's ETS-UV disinfection system. Photo: courtesy of Neptune Benson.