Evoqua Water Technologies Acquires STERIS’ Renal Business
<p><a href='https://financialmodelingprep.com/financial-summary/AQUA'>Evoqua Water Technologies Corp. (NYSE:AQUA) </a>made an announcement, according to which it has entered into an agreement to acquire the assets of STERIS’ renal business operated by Mar Cor Purification and Cantel Medical for $196.3 million. The business is estimated to generate around $180 million in annual sales and adjusted EBITDA of around $27 million.</p>
<p>Analysts at Berenberg Bank estimate the deal to add around 8% and 4% to the company’s 2022 and 2023 total sales, respectively. Once integrated, the analysts expect the company to grow its sales at a double-digit rate over the next two years making it one of the fastest-growing companies in the water technology sector. </p>
<p>Overall, Berenberg Bank thinks this is an excellent bolt-on deal for Evoqua Water Technologies, which adds meaningfully to the company’s financials at a very accretive valuation. </p>

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