German dewatering technology company acquired by Xylem
Pollmann Pumpen Ltd has been acquired by Xylem Inc. for $3 million to expand dewatering business across Europe.
WHITE PLAINS, NY, June 7, 2013 -- Pollmann Pumpen Ltd., a privately owned Germany-based dewatering technology and services company, has been acquired by Xylem Inc.(NYSE: XYL), a leading global water technology company focused on addressing the world's most challenging water issues, for approximately $3 million.
Pollmann Pumpen is a market-leading business with extensive dewatering expertise and technologies, including specialized capabilities such as well-pointing. The company has a strong customer base across Germany, which is the second largest construction rental market in Europe.
"This acquisition is part of the strategic expansion of our dewatering business designed to capitalize on the growing demand for pump rental within the construction, municipal, mining and industrial sectors across Europe," said Andrew Jones, vice president and director of Xylem's dewatering business unit.
"Bringing Pollmann Pumpen into the Xylem family will enable us to further strengthen our rental and services business in an important market. Combining the dewatering expertise of Xylem, our market-leading Flygt and Godwin products and Pollmann Pumpen's strategic geographic position will complement our existing capacity in Germany and enable us to better serve our growing customer base across Europe."
Headquartered in Bremen in Northern Germany, Pollmann Pumpen operates from three locations in the north and east of Germany. The company was founded in 1961 and has 30 employees. The company has a rental fleet of approximately 300 diesel and electric powered dewatering pumps, serving customers across Germany.
Xylem (NYSE: XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world’s most challenging water and wastewater problems. Xylem is headquartered in White Plains, N.Y., with 2012 annual revenues of $3.8 billion and approximately 12,900 employees worldwide. In 2012, Xylem was named to the Dow Jones Sustainability World Index for advancing sustainable business practices and solutions worldwide.