Siemens acquired by private equity firm, changes name to Evoqua
AEA Investors acquired Siemens, securing regulatory approvals and closing an agreement to obtain the company's assets and operations.
Jan. 16, 2014 -- AEA Investors LP recently acquired Siemens Water Technologies LLC, securing regulatory approvals and closing an agreement to obtain the company's municipal, industrial and services water and wastewater treatment assets and operations. As such, Siemens has changed its name to Evoqua Water Technologies LLC.
On Wednesday, Nov. 6, AEA announced its purchase of Siemens from Siemens AG for EUR $640 million (US $872 million). Under AEA, Evoqua will continue to offer municipal and industrial water and wastewater treatment equipment and services. The existing management under the leadership of CEO Dr. Lukas Loeffler will also remain.
Following the sale of Siemens Water Technologies? Here are some additional articles that might interest you:
The name Evoqua originates from the definition of "evoke," to recreate imaginatively, as well as "evolve," symbolizing the ongoing evolution of Siemens combined with a shortened version of "aqua." It is pronounced e (long "e") vo (long "o") qua.
About AEA Investors LP
AEA Investors LP's over 65 investment professionals operate globally with offices in New York, Connecticut, London, Munich, Hong Kong and Shanghai. The firm manages funds that have $6 billion of invested and committed capital including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer products/retail and services. For more information, visit www.aeainvestors.com.
About Evoqua Water Technologies LLC
Evoqua Water Technologies, formerly Siemens Water Technologies, is a leader in water and wastewater treatment products, systems and services for industrial and municipal customers. Its comprehensive, cost-effective and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. For more information, visit www.evoqua.com.