Xylem acquires Heartland Pump, strengthening company's dewatering solutions portfolio in the United
Xylem acquires Heartland Pump, strengthening company's dewatering solutions portfolio in the United States
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Xylem Inc. (NYS: XYL) , a leading global water technology company focused on addressing the world's most challenging water issues, announced today that it has acquired privately held Heartland Pump Rental & Sales, Inc. for approximately $29 million. The actual terms of the transaction were not disclosed. Heartland Pump, headquartered in Carterville, Illinois, has been a strong business partner with Godwin in dewatering pump rental, services and systems design since 1995; Godwin is part of the Xylem portfolio.
"We've identified dewatering as a strategic growth market for us, building on our existing capabilities in emergency water removal, bypass, drainage and industrial applications," said Gretchen McClain, President and Chief Executive Officer of Xylem. "This acquisition supports our strategy by expanding our footprint in an important region of the United States."
Xylem's dewatering solutions business is a world leader in the design and manufacture of automatic self-priming pumps and submersible electric pumps, sold under the Godwin and Flygt brand names. The Xylem offering includes pumps, accessories and services to meet customer needs during fast-paced emergencies, rental or permanent installations.
"Heartland Pump has been a trusted channel partner of Godwin products and services for more than 17 years," said Grant Salstrom, Managing Director of Xylem Dewatering Solutions. "We're pleased to welcome them into the Xylem family, working with them to strengthen our network to help our customers solve their most challenging dewatering problems."
Heartland Pump employs approximately 100 people, with branches in Evansville, Indiana, Horn Lake, Mississippi, and Nashville, Tennessee.
About Xylem Inc.
Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world's most challenging water and wastewater problems. Launched in 2011 from the spinoff of the water-related businesses of ITT Corporation, Xylem is headquartered in White Plains, N.Y., with 2011 revenues of $3.8 billion and 12,500 employees worldwide. In 2012, Xylem was named to the Dow Jones Sustainability World Index for advancing sustainable business practices and solutions worldwide.
The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all -- that which occurs in nature. For more information, please visit us at www.xyleminc.com.
About Xylem's Dewatering Business
Xylem is the world leader in the design and manufacture of automatic self-priming pumps, hydraulic submersibles and related intelligent control systems for dewatering applications, offering Godwin Dri-Prime® and Flygt electric submersible pumps. The company is committed to delivering pumping solutions for fast-paced emergency situations, temporary rental or permanent installations. Through Xylem, customers have access to a complete range of products and solutions for moving water, wastewater and industrial fluids. For more information on Flygt and Godwin products, please visit www.godwinpumps.com.
Tom Glover, +1-914-323-5891
KEYWORDS: United States North America New York
The article Xylem acquires Heartland Pump, strengthening company's dewatering solutions portfolio in the United States originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.