WHITE PLAINS, N.Y. (Feb. 14, 2013) – Xylem Inc. has acquired PIMS Group, a privately held UK-based wastewater services company, for approximately US$57 million.
Farnborough-based PIMS 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. PIMS generated revenue of approximately US$38 million for the fiscal year ended 30 April 2012.
“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 CEO. “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.”
Founded in 1972, PIMS has approximately 220 employees located throughout the UK. The acquisition builds on a successful partnership between the two companies established in 2000 when the then water-related business group within ITT Corp named PIMS as a certified contracting partner of its Flygt submersible pumps.
In 2012, Xylem introduced Xylem TotalCare, a comprehensive, integrated portfolio of services – from design and consultancy to energy audits to supervisory services to maintenance contracts.
“The expertise and knowledge resident in PIMS Group will enable us to create a stronger platform for delivering Xylem TotalCare to customers in the UK and around the world,” added McClain.
Thu, 02/14/2013 - 02:00