Company: Evoqua Water Technologies Corp.
Symbol: AQUA
Description: They are a leading provider of mission critical water treatment solutions, offering services, systems and technologies to support our customers’ full water lifecycle needs.
Shares: 27.8 million
Range: $17.00-$19.00
Trade Date: 11/2
Underwriter(s): Credit Suisse, J.P Morgan, RBC Capital, Citigroup, Goldman Sachs & Co.
Co-Manager(s): Morgan Stanley, Baird, Raymond James, Stifel, Wells Fargo Securities
Business: With over 200,000 installations worldwide, they hold leading positions in the industrial, commercial and municipal water treatment markets in North America. They offer a comprehensive portfolio of differentiated, proprietary technology solutions sold under a number of market-leading and well-established brands. They deliver and maintain these mission critical solutions through the largest service network in North America assuring their customers continuous uptime with 86 branches which are located no further than a two-hour drive from more than 90% of our customers’ sites. They believe that the customer intimacy created through their service network is a significant competitive advantage.
FINANCIALS: Their predecessor and successor revenue from product sales and services was $1.37 billion, $1.19 billion, $1.10 billion, $1.06 billion and $1.14 billion and their net income (loss) was $27.9 million, $61 thousand, ($100.1 million), ($86.1 million), and $13.0 million in fiscal 2012, 2013, 2014, 2015, and 2016, respectively. In the first three quarters of fiscal 2017. Their revenues from product sales and services increased 8.9% to $890.9 million, while their net decreased from a $12.9 million gain to a $6.6 million loss, compared to the same period in fiscal 2016.
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