Evoqua Water Technologies has agreed to divest its Memcor® membrane product line to DuPont Safety & Construction for $110 million in cash, according to the SEC filing. The transaction, which includes the product line’s global workforce, its manufacturing site in Windsor, Australia, associated operations and intellectual property, is expected to close by the end of 2019, subject to customary terms and closing conditions. The sale allows Evoqua to focus on core products and solutions.
Evoqua will continue to design, source and assemble membrane-based systems for customers, incorporating component technologies from partners like DuPont whose core competence resides in membrane development and manufacturing.
“This transaction is an excellent opportunity for Memcor and its employees to align with DuPont’s strength in membrane development and material science,” Evoqua CEO Ron Keating said, in a statement. “Evoqua’s strategy is to source components that we can incorporate into innovative products, and integrated solutions and services, that align with our strengths. We are confident that the Memcor product line will thrive under DuPont’s leadership and we look forward to continuing our decades long business relationship to bring integrated membrane-based systems and solutions to the marketplace.”
Evoqua and DuPont have a legacy of collaboration in ion exchange and reverse osmosis, with DuPont supplying materials for Evoqua’s system. That collaboration will now extend to low pressure membranes and strengthen the strategic partnership between the two companies.
Headquartered in Pittsburgh, the water and wastewater treatment solutions company operates in more than 160 locations across nine countries.