The acquisition expands Cantel Medical to the southeastern United States
Cantel Medical Corp. announced that it acquired the assets of Pure Water Solutions Inc. for a purchase price of $11.9 million in cash consideration. Headquartered in Ridgeland, Miss., Pure Water Solutions provides water purification and treatment services for commercial, industrial, laboratory and medical customers out of eight regional offices throughout the southeastern U.S.
The company had pre-acquisition unaudited revenues and EBITDA of just more than $8 million and $2 million, respectively, for the trailing 12 months. This transaction is expected to be neutral to Cantel's GAAP EPS in fiscal year 2015 and slightly accretive to its non-GAAP EPS in fiscal year 2015, and is expected to be accretive on both a GAAP and non-GAAP basis thereafter.
"Adding the Pure Water Solutions business and its strategic southeastern U.S. market presence to our leadership position in life sciences water purification and filtration enables us to better serve our national customers and further expand our commercial and industrial segments," said Curtis Weitnauer, president and CEO of Mar Cor Purification, Cantel Medical’s water quality division. "We expect to drive incremental growth with the addition of Mar Cor Purification's capabilities and broad portfolio of products and services."
Pure Water Solutions CEO Rob Simmons will continue as an employee of Mar Cor Purification, where he will assist in the integration and continued service of the Pure Water Solutions customer base and the growth of the broader commercial and industrial water business.