Initial Public Offering
Baird served as a co-manager on this offering
AboutEvoqua Water Technologies Corp. (“Evoqua” or the “Company”) (NYSE: AQUA), a portfolio Company of AEA Investors LP (“AEA”) recently completed an initial public offering of 31,944,443 common shares at a price of $18.00 per share, including 4,166,666 shares sold upon full exercise of the option to purchase additional shares granted to the underwriters by the selling shareholders. The offering generated gross proceeds of approximately $575 million, including $150 million for the Company and $425 million for the selling shareholders. The Company intends to use the net proceeds of this offering to repay indebtedness under the term loan facility and for general corporate purposes.
Evoqua is a leading provider of mission critical water treatment solutions, offering services, systems and technologies to support its customers’ full water lifecycle needs. The Company has worked to protect water, the environment and its employees for over 100 years, earning a reputation for quality, safety and reliability around the world. Evoqua operates 160 locations in eight countries and, with over 200,000 installations and 87 service branches, the Company holds leading positions in the North American industrial, commercial and municipal water treatment markets. Evoqua employs approximately 4,000 individuals and is headquartered in Pittsburgh, Pennsylvania.
Founded in 1968, AEA currently manages approximately $10 billion of capital for an investor group that includes former and current chief executive officers of major multinational corporations, family groups and institutional investors from around the world. With a staff of approximately 75 investment professionals and offices in New York, Stamford, London, Munich and Shanghai, AEA focuses on investing in companies in the consumer products / retail, industrial, specialty chemicals and related services sectors.
CONTACT US TO LEARN MORE
- November 2017
- Evoqua Water Technologies Corp.
- Target Location
- North America