PARIS, France – Together with Caisse de dépôt et placement du Québec, SUEZ has completed the acquisition of former GE Water & Process Technologies (GE Water) for €3.2 billion enterprise value in an all‐cash transaction, effective as of September 30th, 2017.
In connection with completion, SUEZ sets up a Business Unit, “Water Technologies & Solutions”, placed under the leadership of Heiner Markhoff - former president and CEO of GE Water.
This new BU combines both the acquired business and SUEZ's own industrial service activities.
SUEZ Water Technologies & Solutions will operate with over 10,000 employees and address the needs of over 50,000 customers worldwide. Additionally, the business will include 650 R&D and expert staff as well as 17 Research & Excellence Centers of SUEZ.
SUEZ said the integration will build on its international footprint, especially in the US. The company plans to present its strategy for the industrial water markets in mid December.
Jean-Louis Chaussade, CEO of SUEZ, said: “This is an exciting moment for SUEZ, as our Group now has an ever-stronger knowledge and skillset to bring innovation and enhanced value to industrial and municipal customers around the world.”