On January 23 this year, Xylem and Evoqua announced that they had reached a final agreement to acquire Evoqua through a transaction, with a transaction value of approximately $7.5 billion.

According to Business Wire, a water treatment technology company based in Washington, D.C. ("Thermo" or "the Company"), Thermo Fisher Scientific (NYSE: XYL) announced today that,The acquisition of Evoqua Water Technologies Corp. ("Evoqua"), a mission critical water treatment solution and service, has been completed.This merger has created an advanced functional platform to address key water resource challenges for customers and communities.

Headquartered in Washington, D.C., the combined company becomes the world’s largest pure-play water technology company, with $7.3 billion in pro forma revenue and more than 22,000 employees globally. Xylem’s unmatched portfolio of innovative solutions across the water cycle, including advanced technologies, integrated services, and deep application expertise, will help customers in utilities, industrial and commercial end markets address their most pressing water needs.

The merged company is headquartered in Washington D.C. and has become a large pure water technology company with estimated revenue of $7.3 billion and over 22000 employees worldwide. Thermo's innovative solution portfolio in the entire water cycle field, including advanced technology, comprehensive services, and deep application expertise, will help customers in the utility, industrial, and commercial end markets address their most pressing water needs.

“Global awareness of water as a systemic risk to society has never been greater. Investment in water solutions continues to accelerate as communities and businesses around the world address intensifying challenges like water scarcity, quality and resilience to climate change – and how to address these issues in an affordable way,” said Patrick Decker, President and CEO of Xylem. “Our combination with Evoqua creates a transformative global platform to solve these critical water challenges at an even greater scale. Together, we are uniquely positioned to help meet customers’ mission-critical needs with an unmatched portfolio of products and services across the water cycle.”

The global awareness of water as a systemic social risk has never been stronger. As communities and businesses around the world tackle increasingly severe challenges such as water scarcity, quality, and climate change resilience, as well as how to address these issues in an affordable way, investment in water solutions continues to accelerate. Our merger with Yihua creates a transformative global platform to address these critical water resource challenges on a larger scale. Our shared advantage is that we can help meet customers' critical task needs by providing a product and service portfolio throughout the entire water cycle.

“Today is an exciting milestone as we formally welcome our new colleagues to Xylem and bring the power of our combined capabilities to bear for our customers and communities every day. Our complementary portfolios and end market exposure position us even more strongly for growth together, as we solve our customers’ water challenges and help make our communities more water-secure.”

Today is an exciting milestone as we officially welcome new colleagues to join Thermo Fisher and bring the power of our comprehensive capabilities to our customers and communities every day. Our complementary product portfolio and end market exposure make us more determined to grow together as we address our customers' water challenges and help our communities become more water safe.

The combined company's executive leadership team will be led by Patrick Decker and include senior leaders from both Xylem and Evoqua. Xylem has also appointed Lisa Glatch and Lynn C. Swann, former Evoqua directors, to serve as members of its Board of Directors. Glatch brings a strategic and financial perspective and more than 30 years’ experience in senior leadership roles across the public and private sectors in the energy, chemicals, environmental, water and transportation industries. Swann has held various leadership roles across business, government, and philanthropic organizations and is an experienced member of public company boards.

The executive leadership team of the merged company will be led by Patrick Decker, including senior leaders from Thermo Fisher and Yihua. Thermo also appointed Lisa Glatch and Lynn C. Swann, former directors of Yihua, as members of the board of directors. Glatch has a strategic and financial perspective, with over 30 years of experience in senior leadership positions in the public and private sectors of the energy, chemical, environmental, water, and transportation industries. Swann has held various leadership positions in business, government, and charitable organizations, and is an experienced member of the board of directors of listed companies.

(From left to right) Patrick Decker, President and CEO of Thermo Fisher Scientific, and Ron Keating, President and CEO of Evoqua

Under the terms of the transaction, each share of Evoqua common stock was converted into the right to receive 0.48 of a share of Xylem common stock. This results in Xylem shareholders owning approximately 75 percent and Evoqua shareholders owning approximately 25 percent of the combined company on a fully diluted basis.

According to the terms of the transaction, each share of Yihua common stock is converted into the right to receive 0.48 shares of Sailemer common stock. This results in Sailemer shareholders owning approximately 75% of the shares, while Yihua shareholders own approximately 25% of the merged company on a diluted basis.

“Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability and resilience at even greater scale,” said Patrick Decker, President and CEO of Xylem. “The combined company delivers a portfolio of advanced technologies, integrated services and application expertise across the water cycle.”

Patrick Decker, President and CEO of Thermo Fisher Scientific, stated, "Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability, and resilience on a larger scale. The merged company provides advanced technology, comprehensive services, and a combination of applied expertise throughout the entire water cycle.

“This combination provides a platform to leverage our combined strengths and increase our impact to better address the most pressing and increasingly complex global water challenges,” said Ron Keating, President and CEO of Evoqua.

Ron Keating, President and CEO of Yihua, stated, "This merger provides a platform to leverage our comprehensive strengths and expand our influence to better address the most pressing and increasingly complex global water resource challenges.

Lazard and Guggenheim Securities served as financial advisors and Gibson, Dunn & Crutcher LLP served as legal advisor to Xylem. Goldman Sachs & Co. LLC and BofA Securities served as financial advisors and Jones Day served as legal advisor to Evoqua.

Lazard and Guggenheim Securities serve as financial advisors to Thermo Fisher, while Gibson, Dunn&Crutcher LLP serve as legal advisors to Thermo Fisher. Goldman Sachs&Co. LLC and BofA Securities serve as financial advisors to Yihua, while Jones Day serves as legal advisor to Yihua.

It is worth noting that according to GWI's ranking based on the estimated water revenue of major global water companies (including project developers, water operators, EPC contractors, and technology companies) in 2020, Thermo Fisher has a water revenue of approximately 4.9 billion yuan.After acquiring Evoqua Water Technologies Corp. ("Evoqua" Yihua), Thermo Fisher estimates revenue of $7.3 billion.

Xylem Analytics is part of Xylem Inc, a global water technology provider focused on solving the world's most challenging and fundamental water problems. Because accurate analysis is critical to the water industry, Xylem Analytics leverages its various product solutions and takes a leading role in the analysis of quantitative and qualitative measurement parameters in the water sector. Xylem Analytics offers suitable meters and accessories for the most important water measurement values such as pH, conductivity, dissolved oxygen, salinity and temperature.

Thermo Analytics is part of Thermo Fisher Scientific, a global water technology provider dedicated to solving challenging and fundamental water problems. Due to the crucial importance of accurate analysis in the water industry, Thermo Analytics plays a leading role in quantitative and qualitative measurement parameter analysis in the water industry by utilizing its various product solutions. Selemer analysis provides suitable instruments and accessories for the most important water measurement data, such as pH, conductivity, dissolved oxygen, salinity, and temperature.

Xylem Analytics (Xylem Analytical Instruments) has YSI, SonTek, WTW, OI Analytical, Aanderaa, MJK, ebro, Bellingham+Stanley, SI, Global Water and other brands, and its product line effectively covers all segments of physical and chemical and biological detection of water environment. Today, our products are contributing to the water quality monitoring of the marine environment, surface water, sewage/wastewater, municipal environmental protection, medicine, food and beverage and other fields in many countries around the world.

Under Xylem Analytics YSI、SonTek、WTW、OI Analytical、Aanderaa、MJK、ebro、Bellingham+Stanley、SI、Global Water The brand and product line effectively cover various sub segments of physical, chemical, and biological testing in water environments. Today, our products are making contributions to water quality monitoring in various fields such as marine environment, surface water, sewage/wastewater, municipal environmental protection, medicine, food and beverage in multiple countries around the world around the clock.

About Xylem

About Thermo

Xylem (XYL) is a leading global water technology company committed to solving the world’s critical water, wastewater, and water-related challenges through technology, innovation, and expertise. Our more than 22,000 diverse employees delivered combined pro forma revenue of $7.3 billion in 2022. We are creating a more sustainable world by enabling our customers to optimize water and resource management and helping communities in more than 150 countries become water-secure.

XYL is a water technology company dedicated to solving the world's key water, wastewater, and water related challenges through technology, innovation, and expertise. Our more than 22000 diverse employees achieved an estimated revenue of $7.3 billion in 2022. We are creating a more sustainable world where our customers can optimize water resource management and help communities in over 150 countries achieve water safety.