CWCO - Consolidated Water Group Acquires Ramey Environmental Compliance Broadening Presence in Water-Stressed Western U.S. | Benzinga
GEORGE TOWN, Cayman Islands and FOUNTAIN VALLEY, Calif. and DENVER, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of advanced water supply and treatment plants, announced that its wholly-owned subsidiary, PERC Water Corporation (PERC), has acquired a 100% ownership interest in Ramey Environmental Compliance (REC) for a total consideration of $4.2 million in cash.
Founded in 1997 by Wayne and Linda Ramey, and headquartered in Frederick, Colorado, near Denver, REC operates and maintains water and wastewater treatment facilities and provides technical services throughout the Rocky Mountains and Eastern Plains of Colorado. REC specializes in helping municipalities and districts comply with environmental regulations and properly manage their precious water resources through a variety of service offerings.
REC currently services more than 100 water and wastewater treatment customers. This acquisition provides a new channel for PERC to expand its existing footprint into additional water-stressed regions across Colorado. More than 22% of the Western U.S. is experiencing drought conditions, with this up more than 51% since October of last year, according to U.S. Drought Monitor.
"Linda and I are excited to join the PERC/CWCO team and will continue to provide award-winning service to our clients in the mountains and Eastern Plains of Colorado as we have done for more than 25 years," stated REC president, Wayne Ramey. "Although we had considered other options for REC, we were impressed with the PERC/CWCO company culture which, like REC, promotes passion for water treatment, excellent service to its customers and innovation. It is really all about the people and the company culture, ...