MISSION WOODS, KS, July 29, 2010 -- Layne Christensen Company today announced the acquisition of Intevras Technologies, LLC ("Intevras"), a privately held holding company of Industrial Water Treatment Processes located in Austin, Texas. The acquisition purchase price was $5.5 million plus future incentives and was funded from Layne Christensen's current cash balances.
Intevras focuses on the treatment, filtration, handling and evaporative crystallization and disposal of industrial wastewaters. With two primary technologies, the EVRAS Evaporative System and the INTEGRA Automated Disk Filtration System, Intevras' recent activities in the Barnett and Marcellus Shales positions it as one of the leaders in the treatment and disposal of heavy brine waters in the oil and gas markets.
Greg Aluce, Layne Division President, said, "The INTEGRA filter provides solids separation to the five micron particle size, and the EVRAS technology provides mobile evaporative reduction, concentration and solidification of industrial waste streams. The capability of the INTEGRA filter to remove solids to such low levels without changing media combined with the ability of the EVRAS units to employ waste heat in the evaporative process is a huge plus. Additionally, a small footprint combined with mobility allow this technology to be applied to shale gas water treatment as well as power, food and beverage and municipal applications dealing with re-use and waste minimization. This acquisition is strategically aligned with Layne's focus on expanding our water treatment offerings and residuals management capabilities."
Thomas Lucario, CEO of Intevras, commented, "This is an exciting time for all of us at Intevras. With James J. Harris, the founder and inventor of our technology, I look forward to being part of the Layne Christensen family. The resources, experience and customer base that Layne provides will help us expand our market base not only in the oil and gas industry but in other industries as well. Our goal is to make Layne the leader in Zero Liquid Discharge applications."
Layne Christensen Company's water services include single source, full service capabilities encompassing expertise in geosciences, water well drilling, pumps, water and wastewater transmission infrastructure and water and wastewater treatment. The company offers advanced treatment technologies for the removal of arsenic, iron, manganese, radionuclides, perchlorate, nitrate and volatile organic contaminants. With over 50 strategically located offices throughout the U.S., Layne is uniquely positioned to offer comprehensive, integrated solutions and services for the extraction and purification of groundwater and surface water for municipalities, investor owned utilities, industrial, power and agriculture sectors.