COMPANY NEWS Xylem adds to its growing dewatering portfolioNov 2012
Xylem News Release
Xylem, the leading water technology company that owns Godwin Pumps, announces acquisition of Heartland Pump Rental and Sales Inc, a company it has had a strong business partnership with since 1995.
"We've identified dewatering as a strategic growth market for us, building on our existing capabilities in emergency water removal, bypass, drainage and industrial applications," said Gretchen McClain, President and Chief Executive Officer of Xylem.
"This acquisition supports our strategy by expanding our footprint in an important region of the United States."
The actual terms of the transaction for acquisition of Illinois-based Heartland Pump, which employs about 100 people and has branches in Evansville, Indiana, Horn Lake, Mississippi, and Nashville, Tennessee, were not disclosed.
"Heartland Pump has been a trusted channel partner of Godwin products and services for more than 17 years," said Grant Salstrom, Managing Director of Xylem Dewatering Solutions. "We're pleased to welcome them into the Xylem family, working with them to strengthen our network to help our customers solve their most challenging dewatering problems."
Xylem's dewatering solutions business encompasses the design and manufacture of automatic self-priming pumps and submersible electric pumps, sold under the Godwin and Flygt brand names. The company was launched in 2011 from the spin-off of the water-related businesses of ITT Corporation, and is headquartered in White Plains, New York. Xylem acquired Godwin Pumps, which maintains a fleet of more than 6,000 portable rental pumps and 3,200 pieces of related equipment, for US$585 million in 2010.
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