Xylem announces acquisition of PIMS Group of the U.K.
Xylem Inc. (NYSE: XYL) announced its $57 million acquisition of PIMS group, a privately owned UK-based wastewater services company. Xylem, a leader in the global water technology market, is focused on addressing the world’s most challenging water and wastewater problems. This acquisition follows a successful partnership between the two companies, established in 2000 when Xylem named PIMS a certified Contracting Partner of its Flygt submersible pumps. Specific details of the acquisition were not released.
Based in Farnborough, PIMS employs 220 people throughout the U.K. as a national supplier of wastewater installation and maintenance services for the municipal, industrial and private sector markets. PIMS provides 24/7 full-service capabilities, covering everything from design and installation to service and maintenance of pumping systems, sewers and drains, oil interceptors and sewage treatment plants. The group reported revenue of approximately $38 million for the fiscal year ended April 30, 2012.
“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,” says Gretchen McClain, Xylem's president and chief executive officer. “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.”
In 2012, Xylem introduced Xylem TotalCare to provide a comprehensive, integrated portfolio of services to customers, including design and consultancy, energy audits, supervisory services, maintenance contracts, and more. The acquisition of PIMS Group and their 24/7 service capabilities ensures that Xylem customers’ operations will always be running at their best.
“The expertise and knowledge resident in PIMS Group will enable us to create a stronger platform for delivering Xylem TotalCare to customers in the U.K. and around the world,” says McClain.