H2O Innovation Inc has acquired Gulf Utility Service Inc (GUS), a US company providing water and wastewater management solutions in the state of Texas in a C$3.713 million deal.
With over 20 years of experience in the operation and maintenance (O&M) of water and wastewater treatment systems, GUS offers its services to approximately 40 municipal and private customers, servicing more than 10 000 users.
GUS had revenues of approximately C$6.750 million and earnings of C$0.816 million before interest, taxes, depreciation, and amortization for the fiscal year ended 31 December 2019.
“This acquisition consolidates our position as operator of water and wastewater utilities in Texas and will allow us to capture synergies and more efficiency in our operations management, more specifically in the Greater Houston Area,” said Frédéric Dugré, president and CEO of H2O Innovation.
“The addition of GUS to our O&M business pillar will allow us to make a significant leap forward in operations management,” said Bill Douglass, vice president & managing director of the O&M Business Pillar of H2O Innovation.
“The methodologies and business processes implemented at GUS over the years have made it possible to optimize their processes and eliminate all paper transactions. By implementing those business processes within our O&M business pillar, we are looking for synergies and significant operational gains, and in doing so, maintain closer proximity with our customers. We intend to implement or replicate these processes over an 18-month horizon.”
With the acquisition of GUS, H2O Innovation will be operating a total of 275 water and wastewater infrastructures in North America.