Xylem Inc.announced that it has acquired privately held Heartland Pump Rental&Sales,Inc.for approximately$29 million.
The actual terms of the transaction were not disclosed.Heartland Pump,headquartered in Carterville,Illinois,has been a strong business partner with Godwin in dewatering pump rental,services and systems design since 1995;Godwin is part of the Xylem portfolio.
"We've identified dewatering as a strategic growth market for us,building on our existing capabilities in emergency water removal,bypass,drainage and industrial applications,"said Gretchen McClain,President and Chief Executive Officer of Xylem."This acquisition supports our strategy by expanding our footprint in an important region of the United States."
Xylem s dewatering solutions business is a world leader in the design and manufacture of automatic self-priming pumps and submersible electric pumps,sold under the Godwin and Flygt brand names.The Xylem offering includes pumps,accessories and services to meet customer needs during fast-paced emergencies,rental or permanent installations.
"Heartland Pump has been a trusted channel partner of Godwin products and services for more than 17 years,"said Grant Salstrom,Managing Director of Xylem Dewatering Solutions."We're pleased to welcome them into the Xylem family,working with them to strengthen our network to help our customers solve their most challenging dewatering problems."
Heartland Pump employs approximately 100 people,with branches in Evansville,Indiana,Horn Lake,Mississippi,and Nashville,Tennessee.
