Newterra Agrees to be Acquired by Grundfos.
Poul Due Jensen, CEO, Grundfos (left), Kevin Cassidy, CEO, Newterra (middle) and Inge Delobelle, Divisional CEO, Industry, Grundfos (right)
Grundfos further strengthens its water treatment offering with new acquisition in North America
Following a series of acquisitions in water treatment in recent years, Grundfos has entered into an agreement to acquire Pittsburgh based water and wastewater treatment company Newterra. It marks another step towards expanding the company’s presence in North America..
Danish company Grundfos, a global leader in advanced water solutions, has signed an agreement to acquire the Pittsburgh based water and wastewater treatment solutions company Newterra from the Chicago-based Private Equity firm, Frontenac.
The signing follows a series of strategic acquisitions made by Grundfos in recent years and will further strengthen the company’s growing portfolio within water treatment.
It also underscores Grundfos’ strategic ambition to expand its presence in the important US and Canadian markets. The company aims to double its US business by 2030 and recently announced that it will expand its production footprint in the US by building a new plant in Brookshire, Texas, where the company has its US headquarters.
“This acquisition is a natural next step towards realizing our ambitious growth plans for the US. Strengthening our capabilities in water treatment enables Grundfos and our customers to make an even bigger positive impact on the world’s water and climate challenges.
Inge Delobelle, EVP & Divisional CEO, Industry Division, Grundfos
With Newterra’s capabilities and track record, we see this as a perfect fit for Grundfos. By integrating their complementary technologies and leveraging their market presence, we will be able to offer a wider range of products and offerings. This addition to our portfolio will enable our customers to address the evolving demands for water solutions.”
Newterra, which has around 280 employees, designs, engineers, manufactures and services a wide range of modular water and wastewater treatment solutions for industrial and municipal customers.
“We are very excited about joining Grundfos. Our visions and shared focus on enabling sustainable solutions for our customers are well aligned. And I am sure, that with our capabilities and the many strengths of Grundfos, together, we can achieve so much more for our customers and the world around us.”
Kevin Cassidy, CEO, Newterra
Since 2020, Grundfos has completed a series of strategic acquisitions to build a strong water treatment platform. With the inclusion of Newterra, the company’s water treatment business will have more than 1,500 highly skilled employees across Europe and North America and revenues exceeding USD 350million. Building on recent years’ acquisitions, Grundfos plans to further strengthen its water treatment business.
The acquisition is subject to closing conditions including regulatory approvals. Closing is expected in the second half of this year. Until then, Newterra and Grundfos will continue to operate as separate entities.
About Grundfos
Grundfos pioneers solutions to the world’s water and climate challenges and improves the quality of life for people. As a leading global pump and water solutions company, we promise to respect, protect, and advance the flow of water by providing energy and water efficient solutions and systems for a wide range of applications for water utilities, industries and buildings. For more information, please visit: www.grundfos.com
Water Treatment (Solutions) is part of Grundfos Industry Division and focuses on offering technologies and systems for treating water across various applications. The Water Treatment business supports circular water practices and improved water efficiency in industrial settings. It has five production sites in the US and Europe, located in Cadriano (Italy), Stilling (Denmark), Mandeville (Louisiana, US), San Diego (California, US), and Grudziadz (Poland). Learn more about what we do in Water Treatment: www.grundfos.com/about-us/what-we-do/water-treatment
About Newterra
Newterra designs, engineers, manufactures, and services environmental, water, and wastewater treatment solutions that assure great performance, superb reliability, and the highest value in our global markets. The company offers a broad portfolio of reliable, trouble-free technologies and outsourcing support for municipal and industrial customers across diverse applications, including drinking water, industrial process water, wastewater, stormwater, and remediation. For more information, please visit newterra.com.
About Frontenac
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a franchise working with over 300 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.
For questions to Grundfos, please contact US Press Officer, John Mone, jmone@grundfos.com, +1346-807-1579
For questions to Newterra, please contact SVP Lifecycle & Marketing, Nathan CW Smith, nsmith@newterra.com, +1952-556-5703
