Utility Partners currently operates 34 plants in six US states, mainly on the US Gulf coast, Southeast, Northeast (New England) and the West Coast (California/Nevada). Utility Partners’ long-term contracts have multi-year renewal options with expected revenues of approximately C$88.3 million over the next five years.
With the acquisition of Utility Partners, the majority of H2O Innovation’s revenues will be derived from its specialty products and services segment.
“The acquisition of Utility Partners is a significant step to building H2O Innovation’s third business pillar, the operation and maintenance of water and wastewater treatment systems. The acquisition will help us better serve our existing clients through a stronger service and product offering tailored to meet their needs. Utility Partners and its team of managers and professionals will be a significant asset for H2O Innovation. We expect this alliance to open the door to a new market and create several cross-selling opportunities between our business lines,” said Frédéric Dugré, president and CEO of H2O Innovation.
“When we initiated discussions with potential partners, we were interested in compatible corporate cultures to insure our teams would work well together as well as additional capabilities with client opportunities to fuel continued growth. H2O Innovation was the most suitable partner given its strong equipment business which will help in better supporting our existing customers in all of their water treatment needs. As we see significant growth in Design-Build-Operate (DBO) contracts, H2O Innovation, once integrated with Utility Partners, will become one of the only players able to provide high quality process equipment as well as operation and maintenance services. This new offering will make H2O Innovation attractive to general contractors and teams targeting a growing number of DBO opportunities currently being planned across the United States,” said Robert Monette, president of Utility Partners.