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
- OSHA issues 16 citations following fatal sewer confined space incident
- 27 pipeline safety violations tied to deadly Pa. chocolate factory explosion
- Contractor gas line strike triggers home explosion in Missouri
- LA recovery reports call for $650 million power line burial, major utility upgrades in Pacific Palisades
- Comprehensive microtrenching FAQ: Key insights on the Vermeer MTR516 microtrencher
- T-Mobile to expand fiber broadband infrastructure footprint with $4.9 billion Metronet acquisition
- First tunnel boring machines complete testing for Hudson Tunnel Project
- NWPX grows water infrastructure portfolio with Colorado precast facility
- Cityside launches $100 million fiber build in Corona, Calif.
- FiberLight to build 1,400-mile West Texas dark fiber network in $350 million expansion
Comments