Aerex, which conducts business as Aerex Global Water Solutions, is an original equipment manufacturer and service provider of products and services applicable to municipal water treatment and industrial water and wastewater treatment. Products include membrane separation equipment, filtration equipment, piping systems, vessels and custom fabricated components. Aerex also provides engineering, design, consulting, inspection, training and equipment maintenance services. The company’s corporate offices and manufacturing facilities are based in Fort Pierce, Florida.
“This acquisition of a majority interest in Aerex represents an important first step of the expansion of our business model into other water-related industries and markets,” said Rick McTaggart, Consolidated Water’s CEO. “Aerex has long been one of our most highly valued suppliers. The equipment it has manufactured for us is integral to the performance of some of our most efficient and profitable desalination plants. Our ownership in Aerex gives us the traditional benefits associated with the vertical integration of a portion of our supply chain, and more importantly provides us with an operating platform in the United States through which we expect to continue to expand our customer base and product lines within the water industry.”
“We believe significant growth opportunities exist for Aerex, and the financial, marketing, operational and technical resources that Consolidated Water will provide to us as a result of their investment will be vital to capitalising on such growth opportunities,” said Aerex president Thomas Donnick.
Aerex had unaudited revenues of more than US$19 million for the year ended 31 December 2015.
Consolidated Water develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The company operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands, the Bahamas, and Bali, Indonesia, as well as a water industry equipment manufacturing and service business in the US.