The Amplio Group (London, U.K.), a leading international operator and investor, todayannounces 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. andEnvirogen Technologies, Inc., subsidiaries of Amplio Group, was completed under Section 363of Chapter 11 of the US Bankruptcy Code.
Amplio also announces that it has formed Envirogen Technologies, Inc., a technology andservices solutions provider with existing business in municipal and industrial water andenvironmental treatment applications. Envirogen Technologies, Inc. has been formed from theassets acquired from Basin Water, Inc.
Envirogen Technologies, Inc. has a strong biological treatment platform with both modular andbuilt-in place systems for highly cost-effective treatment. It offers a broad but targeted range oftechnologies, supported by operating service options for a number of environmental treatmentapplications 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 e-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 andchemical purification.
Envirogen Technologies focuses on ‘lifecycle performance’ – providing guaranteed, pay-for-performance, long-term contracts at predictable costs, offering customers the lowest total costover the lifetime of an equipment installation. The company conducts business throughout theUnited States and is headquartered in Kingwood, Texas (near Houston) with regional offices inSouthern 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 Americaand then globally. We expect to achieve revenues of $25 million and $2 million EBITDA for the2010 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 tobuild significant platforms that will require additional capital during 2010. Despite the currenteconomic turmoil, these sectors are more resilient and the possibility for consolidation is veryattractive 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 environmentalsolutions field, with an experience base that stretches back 40 years and includes thousands ofenvironmental and drinking water installations. Our customers get cutting-edge conceptsbacked by consistent execution.”
