Siemens Water Technologies to be acquired by AEA Investors
An agreement was signed by AEA Investors LP to acquire Siemens Water Technologies for €640 million ($865 million).
Nov. 6, 2013 -- An agreement was recently signed by AEA Investors LP to acquire the water and wastewater treatment operations and asset services of Siemens Water Technologies for €640 million ($865 million).
Working with AEA investment professionals and operating partners, the existing management under the leadership of CEO Dr. Lukas Loeffler is committed to ensure continuity of the ongoing successful integration and optimization of Siemens' operations and assets. Siemens AG acquired the company in 2004 and will continue oversight until change of control -- anticipated to be within the next few months.
Under AEA, the company will continue focus on municipal and industrial water and wastewater treatment equipment and services. The transaction is still subject to regulatory approval.
Read an interview with Dr. Lukas Loeffler conducted by WWI here.
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About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA's active individual investors (the "Participants") include an extraordinary network of more than 75 highly successful business executives, industrial families and former government leaders. Today, AEA's over 60 investment professionals operate globally with offices in New York, Connecticut, London, Munich, Hong Kong and Shanghai with $6.5 billion of invested and committed capital.
About Siemens Industry
The Siemens Industry Sector (Erlangen, Germany) is the world's leading supplier of innovative and environmentally friendly products and solutions for industrial customers. With end-to-end automation technology and industrial software, solid vertical-market expertise, and technology-based services, the Sector enhances its customers' productivity, efficiency, and flexibility. With a global workforce of more than 100,000 employees, the Industry Sector comprises the Division’s Industry Automation, Drive Technologies and Customer Services as well as the Business Unit Metals Technologies. For more information, visit http://www.siemens.com/industry.