Xylem to Acquire Sensus for $1.7 Billion
Xylem Inc. has signed a definitive agreement to acquire Sensus for approximately $1.7 billion in cash.
Sensus, owned by investment funds affiliated with The Jordan Company and GS Capital Partners 2000, is a leading provider of smart meters, network technologies, and advanced data analytics services for the water, electric and gas industries. It has more than 80 million metering devices installed globally, and its distinctive FlexNet® communications network technology uses licensed spectrum in the U.S. and other geographies and provides secure connectivity solutions that support multiple applications.
Sensus has approximately 3,300 employees and major locations in the U.S., United Kingdom, Germany, Slovakia, and China.
Xylem will finance the all-cash transaction with the deployment of approximately $400 million of Xylem’s non-U.S. cash, new and existing credit facilities, and a combination of short- and long-term debt.
The transaction is subject to customary closing conditions and regulatory review, including approval by the Federal Communications Commission of the transfer of certain spectrum licenses and is expected to close in the fourth quarter of 2016.
Related News
From Archive
- U.S. water reuse boom to fuel $47 billion in infrastructure spending through 2035
- Major water pipe break in Puerto Rico hits over 165,000 customers
- Potomac River Tunnel project enters construction phase beneath Washington, D.C.
- U.S. Army Corps approves Enbridge's $500 million Line 5 Tunnel project
- Mexico accelerates $6.7 billion water infrastructure plan amid U.S. water disputes
- Glenfarne Alaska LNG targets late-2026 construction start for 807-mile pipeline project
- Pennsylvania American Water launches interactive map to identify, replace lead water service lines
- Trump's tariffs drive $33 million cost increase for Cincinnati sewer project
- CASE Launches New Equipment Configurator At CaseCE.com
- Utah city launches historic $70 million tunnel project using box jacking under active rail line
Comments