AQUA - Evoqua Water to acquire renal business from Steris for $196.3M

Evoqua Water Technologies (NYSE:AQUA) has agreed to acquire the assets of the renal business historically operated by Mar Cor Purification and Cantel Medical, subsidiaries of STERIS (NYSE:STE) for $196.3M. Mar Cor headquartered in Plymouth, Minnesota, with 27 service and regeneration facilities in the United States and Canada is a leading manufacturer and servicer of medical water, commercial and industrial solutions in North America and will expand Evoqua's service footprint and further its reach into the healthcare vertical market. The acquisition will strengthen Evoqua's offerings in medical water purification systems and aftermarket services. The business is expected to generate annualized revenues of approximately $180 million and adjusted EBITDA of approximately $27 million before synergies. Pursuant to the closure, the business will be part of Evoqua's Integrated Solutions and Services segment. The purchase price will be funded through a combination of cash and proceeds from the revolving credit facility. The transaction is anticipated to close during Evoqua's second quarter of

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Evoqua Water to acquire renal business from Steris for $196.3M