Houlihan Lokey Advises Evoqua Water Technologies (1)

Houlihan Lokey is pleased to announce the signing of an agreement by Evoqua Water Technologies LLC (Evoqua) (NYSE:AQUA) to divest its Memcor® membrane product line to DuPont Safety & Construction, a division of DuPont de Nemours, Inc. (NYSE:DD). The transaction—which includes the product line's global workforce, associated operations, intellectual property, and manufacturing site in Windsor, Australia—closed on December 31, 2019.

The Memcor® product line represents more than 30 years of expertise in membranes and systems for municipal drinking water, wastewater reuse, and wastewater applications. Memcor® is one of several technologies that make up the advanced filtration and separation division within Evoqua's Applied Product Technologies (APT) segment. The product line consists of an international workforce—with the largest concentration located in Australia—primarily focused on membrane chemistry, research, development, and membrane manufacturing operations. Additional associates include global sales, engineering, and service personnel.

Evoqua is a leading provider of mission-critical water and wastewater treatment solutions, offering a broad portfolio of products, services, and expertise to support industrial, municipal, and recreational customers who value water. The company has worked to protect water, the environment, and its employees for more than 100 years, earning a reputation for quality, safety, and reliability around the world. Headquartered in Pittsburgh, Pennsylvania, Evoqua operates in more than 160 locations across nine countries.

DuPont Safety & Construction is a global leader in delivering innovation for life’s essential needs in water, shelter and safety; enabling its customers to win through unique capabilities, global scale and iconic brands including DuPont™ Corian®, Kevlar®, Nomex®, Tyvek®, GreatStuff™, Styrofoam™, and Filmtec®. 

Houlihan Lokey served as the exclusive financial advisor to Evoqua and assisted in structuring and negotiating the transaction on its behalf. This transaction highlights Houlihan Lokey's deep knowledge of the water and wastewater treatment technology sector and the firm's comfort with facilitating and completing highly strategic transactions. In addition, it underscores the firm’s global infrastructure, including its Australasian presence and continued success advising mid-cap industrial companies in complex carve-out situations.