Xylem acquires UK wastewater services company PIMS Group
US-based global water technology company Xylem has acquired PIMS Group, a privately-held wastewater services company from UK, for about $57m.
Based in Farnborough, England, PIMS Group is a national supplier of wastewater installation and maintenance services for the industrial, municipal and private sector markets.
The company provides round-the-clock services, which include designing and installing water pumping stations, as well as service and maintenance.
In addition, PIMS provides services for pumping stations, sewers and drains, oil interceptors and sewage treatment plants.
Xylem president and chief executive officer Gretchen McClain said the main growth strategy employed by the company is to take advantage of its large installed base to provide advanced solutions and services for its customers.
"In bringing PIMS Group into the Xylem family, we are accelerating this strategy by adding an industry-leading and differentiated service capability built on PIMS' world-class talent, tools and processes," McClain added.
"The expertise and knowledge resident in PIMS Group will enable us to create a stronger platform for delivering Xylem TotalCare to customers in the UK and around the world."
In 2000, both the companies collaborated for the first time, when Xylem announced PIMS Group as its certified contracting partner for its Flygt submersible pumps.
Founded in 1972, PIMS Group employs about 220 people across the UK and generated revenue of approximately $38m for the fiscal year ended 30 April 2012.
A water technology provider, Xylem help customers to transport, treat, test and use water in public utility, residential and commercial building services, industrial and agricultural facilities.
The actual terms of the latest deal were not disclosed.