Sulzer completes acquisition of JWC Environmental
Sulzer has announced that it has completed the acquisition of JWC Environmental, LLC. JWC is a leading provider of highly engineered, mission-critical solids reduction and removal products including grinders, screens, and dissolved air flotation systems for municipal, industrial and commercial wastewater applications, as well as for applications in solid waste management.
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, California.
The enterprise value of USD 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 is headquartered in Santa Ana, California, US, and employs around 230 people.
Since its founding in 1973, JWC Environmental has become a world leader in solids reduction and removal for the municipal wastewater industry, as well as in anaerobic digestion, food waste management and recycling applications, with its Muffin Monster line of products. JWC partners with industrial customers for wastewater and solids process optimization with its IPEC Screens, FRC DAF's and Monster Industrial waste shredders.