The Amplio Group (London, U.K.), a leading international operator and investor, today
announces that it has completed its acquisition of substantially all of the assets of Basin Water,
Inc. (NASDAQ: BWTR) for USD 2 million. The sale to Amplio Filtration Holdings, Inc. and
Envirogen Technologies, Inc., subsidiaries of Amplio Group, was completed under Section 363
of Chapter 11 of the US Bankruptcy Code.
Amplio also announces that it has formed Envirogen Technologies, Inc., a technology and
services solutions provider with existing business in municipal and industrial water and
environmental treatment applications. Envirogen Technologies, Inc. has been formed from the
assets acquired from Basin Water, Inc.
Envirogen Technologies, Inc. has a strong biological treatment platform with both modular and
built-in place systems for highly cost-effective treatment. It offers a broad but targeted range of
technologies, supported by operating service options for a number of environmental treatment
applications for the municipal/local government and industrial markets, including:
- treatment of groundwater for the delivery of high-quality potable water
- groundwater remediation
- wastewater treatment
- water re-use
- nutrient removal
- odour control
In industrial markets such as mining, hydrocarbon processing and chemical processing,
Envirogen Technologies also specialises in process water treatment, byproduct recovery and
chemical purification.
Envirogen Technologies focuses on ‘lifecycle performance’ – providing guaranteed, pay-for-performance, long-term contracts at predictable costs, offering customers the lowest total cost
over the lifetime of an equipment installation. The company conducts business throughout the
United States and is headquartered in Kingwood, Texas (near Houston) with regional offices in
Southern California, Illinois, New Jersey and Tennessee.
Andrea Davi, Partner of Amplio said:
“The technologies acquired, together with the experienced team at Envirogen Technologies,
provide an excellent opportunity to develop Amplio’s filtration business initially in North America
and then globally. We expect to achieve revenues of $25 million and $2 million EBITDA for the
2010 financial year and Amplio is currently targeting potential acquisitions.”
Riccardo Segat, CEO and Founder, Amplio said:
“Amplio is committed to developing our water and solar businesses where we are looking to
build significant platforms that will require additional capital during 2010. Despite the current
economic turmoil, these sectors are more resilient and the possibility for consolidation is very
attractive for an experienced operator like Amplio.”
Michael M. Stark, President & CEO of Envirogen Technologies said:
“At Envirogen Technologies, we have some of the most talented people in the environmental
solutions field, with an experience base that stretches back 40 years and includes thousands of
environmental and drinking water installations. Our customers get cutting-edge concepts
backed by consistent execution.”