Sulzer announces that it has completed the acquisition of JWC Environmental LLC (JWC). JWC is a leading provider of highly engineered, mission-critical solids reduction and removal products such as grinders, screens, and dissolved air flotation system for municipal, industrial and commercial wastewater applications.
The transaction allows Sulzer to grow its wastewater treatment offering through complementary equipment, as well as to improve its access to the municipal and industrial wastewater market in North America. Furthermore, Sulzer intends to strongly pursue and support JWC’s geographic expansion into markets in EMEA and Asia. Significant sales synergies are expected through growth in JWC’s markets outside North America. JWC will operate as part of Sulzer’s Pumps Equipment division and will continue to be headquartered in Santa Ana, CA.
The enterprise value of $215 million adjusted for an acquired tax asset corresponds to a multiple of approximately 10x 2018 earnings before interest, taxes, depreciation, and amortization (EBITDA). JWC employs about 230 people.