US water management company AquaVenture completes acquisition of Aguas de Bayovar
AquaVenture, a multinational firm that offers water purification solutions, has completed the acquisition Aguas de Bayovar (ADB) through its Seven Seas Water business.
The company completed the acquisition for a purchase price of approximately $46m in cash.
As per the acquisition terms, AquaVenture will own all the rights and obligations under a design and construction contract for a desalination plant and related infrastructure located in Peru.
AquaVenture chairman & CEO Doug Brown said: “As we expand operations to service the mining industry in South America, we believe that our expertise in offering WAAS will greatly contribute to increasing production and capital efficiency in mining.
“We have had great success providing purified water to our industrial and municipal clients since 2007, and we are confident in our ability to provide the same level of service to the mining sector.”
ADB has been supplying seawater as well as desalinated process water to Compañía Minera Miski Mayo (CMMM), which uses the water to operate its Bayovar phosphate mine, located in North Western Peru approximately 600 miles north of Lima.
With this acquisition, Seven Seas Water intends to improve its operating efficiency of desalination plant, as well as increase reliability, and provide higher minimum supply volumes to CMMM.
The acquisition expands Seven Seas Water base of facilities in South America that provides Water-as-a-Service (WAASTM) solutions to its customers.