Fredericks Michael & Co. (“FM&Co.”) acted as exclusive financial advisor to Kemira Oyj (HLSE:KEMIRA) (“Kemira”), a global leader in sustainable chemical solutions for water intensive industries, on its acquisitions of Water Engineering, Inc. (“Water Engineering”), a leading provider of industrial water treatment services in the United States, from Nolan Capital, a US-based family office of Peter Nolan. The purchase price is approximately USD 150 million in cash.
The acquisition represents a significant strategic milestone for Kemira, expanding its Water Solutions business into industrial water treatment services. Water Engineering brings Kemira with a platform for further growth with significant expertise in boiler and cooling tower water treatment formulations, as well as industrial wastewater treatment solutions in sectors such as food & beverage, manufacturing and healthcare, along with strong cross-selling potential for Kemira’s existing product portfolio.
“This acquisition is a key milestone in our strategy to double the water revenue and establish a strong position in industrial water treatment services,” said Tuija Pohjolainen-Hiltunen, Executive Vice President, Water Solutions at Kemira. “We are thrilled to welcome Water Engineering and its employees to the Kemira global team. Water Engineering’s deep expertise in industrial water treatment services will significantly strengthen our capabilities and service offering. Together, we look forward to accelerating growth and continuing to deliver high-quality solutions and chemistries to industrial customers across North America.”
FM&Co. advised Kemira on a multi-step engagement process which included development and execution of a strategic search and screen process for North American industrial water treatment services companies. Water Engineering was identified as an acquisition target and FM&Co. advised Kemira in the bi-lateral negotiations with the private owners of Water Engineering. FM&Co. provided acquisition advice including valuation, transaction structuring, management of commercial, financial, and legal due diligence, as well as recommendation on negotiating strategies and tactics through closing of the transaction.
About Kemira:
Kemira is a global leader in sustainable chemical solutions for water intensive industries. Kemira delivers tailored products and services to improve the product quality, processes, and resource efficiency of its diverse range of customers. Kemira’s focus is on water treatment, as well as on fiber and renewable solutions – enabling sustainability transformation for its customers. In 2024, Kemira reported annual revenues of EUR 2.9 billion with a global team of approx. 4,700 people. Kemira is listed on the Nasdaq Helsinki. For further information, visit www.kemira.com
