Consolidated Water announced that its wholly-owned subsidiary, PERC Water Corporation, has acquired a 100% ownership interest in Ramey Environmental Compliance (REC) for a total consideration of $4.2 million in cash.
Founded in 1997 by Wayne and Linda Ramey, and headquartered in Frederick, Colorado, near Denver, REC operates and maintains water and wastewater treatment facilities and provides technical services throughout the Rocky Mountains and Eastern Plains of Colorado. REC specializes in helping municipalities and districts comply with environmental regulations and properly manage their precious water resources through a variety of service offerings.
Consolidated Water is a developer and operator of advanced water supply and treatment plants. Its subsidiary, PERC, develops, operates and manages water infrastructure throughout the U.S.
REC currently services more than 100 water and wastewater treatment customers. This acquisition provides a new channel for PERC to expand its existing footprint into additional water-stressed regions across Colorado.
“Linda and I are excited to join the PERC/CWCO team and will continue to provide award-winning service to our clients in the mountains and Eastern Plains of Colorado as we have done for more than 25 years,” stated REC president, Wayne Ramey. “Although we had considered other options for REC, we were impressed with the PERC/CWCO company culture which, like REC, promotes passion for water treatment, excellent service to its customers and innovation. It is really all about the people and the company culture, and we believe that combining REC with PERC/CWCO was the best choice for all of REC’s stakeholders and preserving our legacy for the long-term.”
REC has won numerous awards over the years, including national recognition for excellence by the EPA. The company’s field staff is professionally certified for the operation, maintenance, and management of a wide variety of types and sizes of water, wastewater and industrial wastewater treatment systems.
“REC has built a stellar reputation with numerous customers and regulators across Colorado, and has assembled a professional staff that we have come to believe is second to none,” said Consolidated Water president and CEO, Rick McTaggart. “Like previous successful transactions that we have completed over the years, we expect that CWCO’s strong financial capabilities and incremental management skills will enable REC to expand its business in this water-stressed and growing area of the United States.”
