GLOBAL WATER TECHNOLOGY ACQUIRES BLUEGRASS KESCO; EXPANDS OPERATIONS TO 40 STATES

Posted June 10, 2024

FOR IMMEDIATE RELEASE

Acquisition complements and enhances Global Water Technology’s (GWT) ability to provide customers across the U.S. with a seamless and integrated service experience
Transactions to include all Bluegrass KESCO (BK) existing clients, intellectual property, as well as physical real estate property and real estate improvements located in Louisville, Kentucky
New technical facilities to complement GWT’s existing portfolio including a national laboratory and additional production capabilities strategically located in the center of the United States
Expands GWT’s direct-to-customer service offerings with strengthening of services focused on pretreatment, water purification, water and energy services and environmental advisory
Transaction adds annual top line revenue of ~$10 million and was completed with zero outside equity contributions; GWT remains completely independent as it continues to execute its strategic growth plan

South Holland, Illinois, June 10, 2024—Global Water Technology, Inc. and Bluegrass KESCO, Inc. today announced that they have entered into a definitive agreement for GWT’s acquisition of BK, including the physical property, and associated real estate improvements previously owned by BK. Building on GWT’s commitment to deliver the highest quality water purification and water and energy solutions, the acquisition of these complementary assets allows GWT to create a more robust and consistent offering across the U.S., build more direct relationships with clients across the country with multi-state operations, and deliver a more compelling service experience to clients wherever they need to call on GWT.

“The acquisition of the acclaimed Bluegrass KESCO organization and team reflects our commitment to growing in the right places for the right reasons, increasing our reach across the U.S. while adopting a consistent service delivery model that delivers the best results for every client,” said Michael A. Byerley, Chairman and Chief Executive Officer, Global Water Technology. “We are honored and grateful that Dennis Monohan, Patricia Monohan, Stuart O’Neil, and William “Keith” Hix have entrusted us with the future of the business they spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio while greatly enhancing our growing client offerings. This deal substantially expands our national reach, enabling us to deliver best-in-class water and energy solutions in key markets across the country.”

“We are extremely proud of all that we have built at Bluegrass KESCO, and I firmly believe that this combination with Global Water Technology will unlock even more value for our customers as GWT continues to set the pace in what is an exciting and dynamic approach to the industry,” said Dennis Monohan, President of Bluegrass KESCO. “Furthermore, I’m convinced that this combination, under Michael Byerley’s leadership and impressive executive team, will be one of the greatest water and energy companies in the industry. I’m grateful and encouraged by GWT’s approach, and it is clear that GWT is committed to succeeding with a combined team that is second to none.”

“When considering this strategic acquisition, it was important to our executive team that Stuart O’Neil and Keith Hix remain with the combined organization to provide the vision and proven leadership required to successfully complete and integrate such a large, complex undertaking,” said Michael J. Landers, President of Global Water Technology. “We share the belief of our counterparts at Bluegrass KESCO that extending their tenure is in the best interests of the combined organization and will be critical to GWT’s ability to effectively drive long-term value from this significant acquisition.”

With the addition of BK, GWT will be able to accelerate its use of innovative technologies, including pretreatment, water purification and industrial water treatment applications to create more ways and more choices for how the GWT team across the country approaches unique client solutions.

For more information, please contact GWT at info@gwt-inc.com or 708-349-9991.

About Global Water Technology, Inc.:

Global Water Technology, Inc. is one of the nation’s fastest-growing providers of commercial and industrial water treatment solutions. Founded in 1990 to meet a growing demand for personalized, affordable, and reliable water treatment services, GWT now serves a wide range of customer segments including hospitality, healthcare, manufacturing, commercial office buildings, data centers, food, and beverage, as well as new construction clients. GWT’s reputation for superior service and cost-effective solutions for minimizing water consumption and extending the useful life of water systems equipment has propelled GWT from its Chicagoland roots to being a national provider with a presence to-date in over 40 states.

For more information about GWT, please visit our About Us page.

About Bluegrass KESCO, Inc.:

Formed via a merger between Bluegrass Water Treatment Company (founded 1980) and KESCO (founded 1981) in 1987, Bluegrass KESCO, Inc. has provided water treatment products, services, and expertise for over forty years throughout Kentucky, Tennessee, West Virginia, and Ohio. With a focus on quality of service and technical expertise, BK has a reputation for meeting facility needs spanning cooling towers, steam boilers, closed loops, water filtration/purification, and waste water.

Bluegrass KESCO, Inc. acquired the water treatment division of Livingston Laboratories in 1994 and the water purification/filtration business, Performance Products, Inc. in 2007, both acquisitions serving to accelerate BK’s regional growth and technical prowess.

For more information about BK, please visit BK’s website.

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