04/08/2021 – Utilities / Water / Technology / Water Treatment / GES / Aqwise / Acquisition
GES acquires Aqwise in bid to become global player in water & wastewater treatment tech
Michael Dayan, CEO of GES, says the Aqwise acquisition positions his company as a leading, dominant player in the Water, Industrial & Municipal Wastewater Market on the international stage.
GES, which operates in the desalination, water treatment and wastewater industry, signed an agreement to acquire Aqwise, which, over the past decade has achieved its status as one of Israel's leading, rapidly-growing technology companies in the global water and wastewater treatment sector.
Founded over three decades ago, and one of Israel's oldest companies in the water, wastewater and environmental sector, Tel Aviv Stock Exchange listed GES is fully owned by the Generation Capital Fund (TASE: GNRS) – the first investment fund dealing in infrastructures and energy to be traded in Israel – and operates as the organisation’s environmental branch.
Over the past year, GES has exhibited dramatic growth in its business volume and the acquisition of Aqwise comes in the wake over the past year of other significant deals in Israel. These include the acquisition of Dekel Infrastructures, owner of a household solid waste sorting facility in the Jerusalem area and a contaminated soil treatment plant, and the acquisition of Derech Hayam, owner of the desalination plant in Palmachim (pictured) in exchange for a total of approximately NIS 255 million (US$79m).
Delivering the complete package
Michael Dayan, CEO of GES, said the combination of Aqwise's engineering capabilities, the range of specialised technologies and its sizable global footprint, coupled with GES's robust executive capabilities and Generation's financial backing, will facilitate the delivery of a complete portfolio of services in the water and wastewater sectors to Tier-1 industrial customers, to municipalities and to other players dealing with environment-related challenges, including operational aspects and long-term financing.
With the new acquisition, the combined group is expected to become a leader both in the industrial and municipal wastewater treatment market as well as in the water treatment market in Israel.
Aqwise will continue to operate as a separate entity, as a subsidiary wholly-owned by GES.
Elad Frenkel, Aqwise CEO, said today that there are very few companies in the global water sector with such a clear business focus; who offer such a broad range of technological solutions and have such extensive international presence. Mr Frenkel added that combined with the synergies and robust financial backing of GES, there is no doubt Aqwise, alongside Aqana – its anaerobic specialist subsidiary in the Netherlands – would be able to continue its rapid growth and further increase its global presence.
Proven expertise in projects worldwide
Aqwise's technologies have so far been implemented in over 500 sites in over 50 countries all over the world. The company has offices in Mexico, and Central America, The UK, Germany, Italy and India. Recently, Aqwise has carried out advanced projects for some of the world's most advanced municipal clients and also for multinational corporations such as Unilever, Coca Cola bottlers and Thyssenkrupp, with which it has signed one of the largest Israeli offset deals in recent years.
Such expertise will significantly bolster the capabilities of GES, which has proven experience in carrying out complex projects globally. Over the past 20 years, the firm has built over 500 plants in Israel and worldwide. The firm also acts as the operator at a large proportion of these facilities, including over 200 sites in Israel. The Company offers its customers (including power stations, chemical, petrochemical and electronics plants, metal factories, food and beverage factories, cosmetic and pharmaceutical companies, institutions, government and municipal authorities, and military units) a complete suite of services, encompassing all project phases – from concept development to detailed engineering design, fabrication, construction and commissioning in the field, to routine operation and maintenance of the facilities.
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