New York-based private equity specialist AEA Investors LP is buying Siemens' Water Technologies business unit in a deal valued at €640 million. The sale includes Siemens Water Technologies' municipal, industrial and services water and wastewater treatment operations and assets. Water Technologies' current management, including CEO Dr Lukas Loeffler, will remain with the business under AEA ownership to ensure a successful integration and to optimize the operations and assets. The business will continue to focus on municipal and industrial water and wastewater treatment equipment and services. "We look forward to a new chapter of increased entrepreneurship, flexibility and growth for Water Technologies," said Dr Loeffler. "Together with AEA, we will continue building on our wide range of enduring brands and advanced water and wastewater treatment technologies to help our customers more cost-effectively meet their water needs now and in the future."
"We are excited to be partnering with one of the leaders in the global water industry and are supportive of management and their plan to continue to grow the business," said AEA managing partner Brian Hoesterey. Siemens will now focus its water business on automation and drive solutions for the operation of water and sewage treatment and seawater desalination plants. "In AEA, we're pleased to have found a buyer with experience in industrial investments who wants to continue to drive Water Technologies' business and cultivate existing customer relationships. At Siemens, we will in the future be focusing our water business on solutions in line with our electro technical core competencies in automation and drive technologies," said Siegfried Russwurm, member of Siemens' managing board and CEO of the company's Industry Sector. The Water Technologies business has been up for sale since last November.
