CECO Environmental Acquires Index Water For Undisclosed Sum

CECO Environmental Corp. CECE has acquired substantially all of the assets of Index Water, expanding its water treatment solutions portfolio serving the Middle East region. Deal terms were not disclosed.
This acquisition adds new customers, intellectual property, and depth to the technology stack. CECO strengthens its water treatment solutions with this acquisition, coupled with the recently announced acquisition of GRC.
Related: CECO To Acquire Rubber Expansion Joints Manufacturer GRC For Undisclosed Sum
"With the addition of the Index Water assets, we have expanded our leadership presence and addressable water market in more than 10 countries by at least $200 million, and it allows us to further leverage the brand and capabilities across the globe," said CEO Todd Gleason.
CECO Environmental held $32 million in cash and equivalents as of December 31, 2021,
Price Action: CECE shares traded lower by 3.94% at $4.88 on the last check Thursday.