Transactions & Cases Detail



Transaction/Case Details

H2O Innovation enters US with acquisition of Utility Partners and concurrent Private Placement of US$20 M

DATE CLOSED

July 26, 2016

BUSINESS SECTOR

General Manufacturers

LEAD OFFICE

Quebec

VALUE

20 Million USD


OVERVIEW

On July 13, 2016,  H2O Innovation Inc. announced a binding agreement pursuant to which H2O Innovation acquired Utility Partners, LLC ("Utility Partners"), a US-based company specializing in the operation and maintenance of water and wastewater treatment plants (the "Acquisition"). The purchase price was US$17.0 million

H2O Innovation financed the Acquisition with an equity financing, by way of a bought deal private placement, for an amount of approximately US$18.4 million. Concurrently, H2O Innovation completed a non-brokered private placement with certain insiders in the amount of US$1.6 million and an additional US$10 million long-term secured credit facility.

Utility Partners provides US municipal clients with innovative and cost-effective solutions for water and wastewater treatment plants. 

H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology for municipal, energy and natural resources end-users. Also, directly and through its affiliates, H2O Innovation provides services and products complementary to its membrane filtration and reverse osmosis systems.

McCarthy Tétrault LLP advised H2O Innovation with a team led by  Philippe Leclerc.

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