K&L Gates Advises Evoqua Water Technologies on Memcor® Product Line Divestment
4 October 2019
Pittsburgh - Global law firm K&L Gates advised Evoqua Water Technologies (NYSE: AQUA) on an agreement to divest its Memcor® membrane product line to DuPont Safety & Construction.
Evoqua Water Technologies is a leading provider of water and wastewater treatment solutions, offering a broad portfolio of products and services to support industrial, municipal, and recreational customers. Headquartered in Pittsburgh, Pennsylvania, the company operates in more than 160 locations across nine countries.
The Memcor product line consists of membranes and systems for municipal drinking water, wastewater reuse, and wastewater applications, and includes an international workforce, with the largest concentration located in Australia, primarily focused on membrane chemistry, research, development, membrane manufacturing operations, and sales and service personnel. Sale of the product line will allow Evoqua to focus on core products and solutions in line with its strategy toward digitally enabled, recurring revenue-based businesses.
The cross-office team that advised Evoqua was led by corporate practice area leader Bob Zinn (Pittsburgh/New York), and included other corporate partners Megan Wotherspoon (Pittsburgh), David Forney (Pittsburgh/Washington, D.C.), and Chris Nikou (Melbourne). Lawyers across the firm’s offices in the United States, Australia, the United Kingdom, Singapore, and China assisted on the transaction.
Zinn commented: “We’re delighted that Evoqua chose K&L Gates to provide legal support on four continents in this complex, cross-border carveout transaction. This is another example of collaboration with our global clients to leverage legal resources seamlessly across industries, disciplines, and time zones.”
The transaction, which includes the product line’s global workforce, manufacturing site in Windsor, Australia, associated operations, and intellectual property, is expected to close in Q4 2019, subject to receipt of regulatory approvals and other customary closing conditions.