Xylem Acquires PIMS Group in the United Kingdom
Feb 05, 2013
Xylem Inc. (NYSE: XYL), a leading global water technology company focused on addressing the world’s most challenging water issues, announced Feb. 5 that it has acquired PIMS Group, a privately held United Kingdom-based wastewater services company, for approximately $57 million.
The actual terms of the transaction were not disclosed. PIMS generated revenue of approximately $38 million for the fiscal year ended April 30, 2012.
PIMS Group, based in Farnborough, is a national supplier of wastewater installation and maintenance services for the municipal, industrial and private sector markets. PIMS provides a 24/7 service capability from design and installation to service and maintenance of pumping systems, sewers and drains, oil interceptors and sewage treatment plants.
“The core of Xylem’s growth strategy is to leverage our large installed base to deliver advanced solutions and services that create peace of mind for our customers and help ensure that their operations are running optimally,” said Xylem president and CEO Gretchen McClain. “In bringing PIMS Group into the Xylem family, we are accelerating this strategy by adding an industry-leading and differentiated service capability built on PIMS’ world-class talent, tools and processes.”
PIMS Group was founded in 1972 and has approximately 220 employees located throughout the United Kingdom. The acquisition builds on a successful partnership between the two companies established in 2000 when Xylem (then the water-related business group within ITT Corp.) named PIMS Group a certified Contracting Partner of its Flygt submersible pumps.