Hydro International Acquires Eutek Systems
Hydro International of Portland, Maine, announced May 6 the purchase of Eutek Systems, Inc.
Founded in the early 1970s, Portland, Ore.-based Eutek is a leading provider of high-performance equipment that removes fine grit, sugar sands, abrasives, and fixed solids from wastewater streams.
The deal pairs two experienced designers and suppliers of innovative, non-mechanical vortex grit-removal systems, giving customers a wider range of product choices and the market-leading strength of a combined business with annual revenues of approximately $60 million.
"This acquisition is a perfect fit for Hydro, giving us expanded market share in the U.S., a West Coast base of operations, and product technologies that complement our existing wastewater grit-removal portfolio," said Steve Hides, chief executive officer of Hydro International. "The market for grit-removal systems is expanding, driven by the growing need to upgrade and replace aging equipment and the rising demand for more efficient systems to remove grit from wastewater flows. We look forward to tapping our combined sets of expertise to capitalize on this exciting market opportunity."
Hydro plans to maintain the Eutek brand and use the company's Portland base as a platform to expand Hydro's wastewater business.
"Hydro International has always been known as a strong supplier that provides reliable, high-quality products and solid customer service, and Eutek has had a very similar business model," said Marcia Sherony, National Sales Manager for Eutek Systems. "We look forward to merging our 30 years of experience and market presence with Hydro's many strengths to create an unbeatable combination."