SUEZ finalises acquisition of GE Water & Process Technologies
SUEZ, together with Caisse de dépôt et placement du Québec (CDPQ), has completed the acquisition of former GE Water & Process Technologies for €3.2 billion (US$3.75 billion) in an all‐cash transaction, effective as of September 30th, 2017.
In connection with the completion, SUEZ set up a Business Unit, “Water Technologies & Solutions”, placed under the leadership of Heiner Markhoff – former President and CEO of GE Water & Process Technologies – who will also be joining SUEZ Group’s Executive Committee. The new unit will combine both the acquired business and SUEZ’s own industrial service activities, and will offer an unparalleled value proposition to the shareholders, including the expected commercial, operational and technical synergies.
SUEZ Water Technologies & Solutions will operate with over 10,000 employees and will address the needs of over 50,000 customers around the world. With 650 R&D and expert staff as well as 17 Research & Excellence Centres of SUEZ, the business unit is committed to expanding its water treatment offerings and digital capabilities to deliver best-in-class solutions.
The acquisition has secured SUEZ’s position as a global leader in industrial water services and also strengthens its position as an integrated group providing services, addressing over 450,000 industrial and business customers worldwide. At the same time, it builds on its international footprint, especially in the United States.
“I am thrilled to welcome GE Water & Process Technologies’ teams and know-how,” Jean-Louis Chaussade , CEO of SUEZ, said. “This is an exciting moment for SUEZ, as our Group now has an ever-stronger knowledge and skill-set to bring innovation and enhanced value to industrial and municipal customers around the world. With over 90,000 employees working across the entire water and waste value chain, we will help address pressing global challenges such as water scarcity, resources preservation, and climate change.”
SUEZ will provide further details on SUEZ Water Technologies & Solutions’ business and present its strategy in the industrial water markets during a separate dedicated meeting that will take place on the 13th of December, 2017.