PARIS (October 2, 2017) – SUEZ announces that, together with Caisse de dépôt et placement du Québec (CDPQ), it has completed the acquisition of former GE Water & Process Technologies (GE Water) for €3.2Bn enterprise value in an all‐cash transaction, effective as of September 30, 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. Mr. Markhoff joins SUEZ Group’s Executive Committee. This new BU combines both the acquired business and SUEZ own industrial service activities. It will offer an unparalleled value proposition to the shareholders, including the expected commercial, operational and technical synergies.
SUEZ Water Technologies & Solutions will operate with over 10,000 employees and address the needs of over 50,000 customers worldwide. Additionally, relying on 650 R&D and expert staff as well as 17 Research & Excellence Centers of SUEZ, the business unit is committed to expanding its water treatment offerings and digital capabilities to deliver best-in-class solutions.
SUEZ will provide further details on SUEZ Water Technologies & Solutions’ business and present its strategy in the industrial water markets during a separate dedicated meeting to take place on December 13.