This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Xylem Announces Acquisition Of PIMS Group Of The U.K. To Enhance Service Capabilities In Water And Wastewater Markets

Xylem Inc. (NYSE: XYL), a leading global water technology company focused on addressing the world’s most challenging water issues, announced today that it has acquired PIMS Group, a privately held United Kingdom-based wastewater services company, for approximately $57 million. The actual terms of the transaction were not disclosed. PIMS generated revenue of approximately $38 million for the fiscal year ended April 30, 2012.

PIMS Group, based in Farnborough, is a national supplier of wastewater installation and maintenance services for the municipal, industrial and private sector markets. PIMS provides a 24/7 service capability from design and installation to service and maintenance of pumping systems, sewers and drains, oil interceptors and sewage treatment plants.

“The core of Xylem’s growth strategy is to leverage our large installed base to deliver advanced solutions and services that create peace of mind for our customers and help ensure that their operations are running optimally,” said Gretchen McClain, Xylem's president and chief executive officer. “In bringing PIMS Group into the Xylem family, we are accelerating this strategy by adding an industry-leading and differentiated service capability built on PIMS’ world-class talent, tools and processes.”

PIMS Group was founded in 1972 and has approximately 220 employees located throughout the U.K. The acquisition builds on a successful partnership between the two companies established in 2000 when Xylem (then the water-related business group within ITT Corporation) named PIMS Group a certified Contracting Partner of its Flygt submersible pumps.

In 2012, Xylem introduced Xylem TotalCare, a comprehensive, integrated portfolio of services – from design and consultancy to energy audits to supervisory services to maintenance contracts – to ensure that customers’ operations run at their best.

“The expertise and knowledge resident in PIMS Group will enable us to create a stronger platform for delivering Xylem TotalCare to customers in the U.K. and around the world,” added McClain.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs