Hydro International today announced that it has acquired its main competitor in the wastewater and stormwater treatment market.
Portland, Me.-based Hydro International purchased Eutek Systems Inc., a Portland, Ore., maker of equipment that removes particles — from fine grit to solid particles — from wastewater streams. The initial deal for Eutek is for $8.5 million in cash, but the agreement also includes additional payouts over the next few years that may bring the total deal price to $13.5 million, according to a Hydro International spokesman.
Hydro International, which employs roughly 120, will maintain Eutek’s Oregon headquarters.
