Caisse, IQ help fund H2O Innovation's buy of Utility Partners
H2O Innovation Inc (TSX-V: HEO) has closed its previously announced buy of Utility Partners LLC, a Gulfport, Mississippi-based specialist in the operation and maintenance of water and wastewater treatment plants. The total consideration was about $22.5 million (US$17 million). To help fund the acquisition, H2O raised about $23 million through a private placement deal. Caisse de dépôt et placement du Québec and Investissement Québec invested a combined $8.15 million. Québec City-based H20 provides water treatment solutions using membrane filtration technology. It has previously received financing from Fondaction CSN.
27 July 2016•6 mins read
