WHITE PLAINS, N.Y. — Xylem Inc. announced that it has acquired PIMS Group, a privately held United Kingdom-based wastewater services company, for approximately $57 million, according to a press release.
The actual terms of the transaction were not disclosed. PIMS generated revenue of approximately $38 million for the fiscal year ended April 30, 2012, noted the release.
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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, stated the release.
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"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 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."
Read the entire press release here.