Sulzer announces that it has completed the acquisition of JWC Environmental LLC.
The transaction allows Sulzer to grow its wastewater treatment offering through complementary equipment as well as to improve its access to the municipal and industrial wastewater market in North America. Furthermore, Sulzer intends to strongly pursue and support JWC’s geographic expansion into markets in EMEA and Asia. Significant sales synergies are expected through growth in JWC’s markets outside North America. JWC will operate as part of Sulzer’s Pumps Equipment division and will continue to be headquartered in Santa Ana, California.
The enterprise value of USD 215 million adjusted for an acquired tax asset corresponds to a multiple of approximately 10x 2018 earnings before interest, taxes, depreciation and amortization (EBITDA). JWC is headquartered in Santa Ana, California, US, and employs around 230 people.
