Hawkins, Inc. to add Six Water Treatment Locations with Acquisitions of Water Solutions Unlimited and Miami Products
30 Outubro 2023 - 10:05AM
Hawkins, Inc. (Nasdaq: HWKN) a leading specialty chemical and
ingredients company, announced today that it has completed the
acquisition of Water Solutions Unlimited, Inc. (“Water Solutions”)
and has entered into a definitive agreement to acquire the assets
of The Miami Products & Chemical Company (“Miami Products”).
Water Solutions mainly serves municipal customers in Indiana,
Michigan, Illinois and Kentucky, and Miami Products manufactures
bleach and serves the commercial pool business under the brand name
Sanygen® and sells to municipal customers in Ohio and the
surrounding region. The acquisition of Miami Products is expected
to close within the coming weeks.
“These acquisitions continue to grow our Water Treatment
footprint and provide an expanded product offering to our
customers,” said President and Chief Executive Officer, Patrick H.
Hawkins. “Hawkins’ annual proforma combined revenue is now expected
be approximately $1 billion and the number of our Water Treatment
locations we operate out of has increased from 40 to 46. Water
Solutions and Miami Products are considered premier providers in
the states they serve and, a lot like Hawkins, create value for
their customers through superb customer service and support,
quality products and customized applications. In addition, the
bleach manufacturing capabilities that Miami Products brings to us
in Southwestern Ohio will provide support to current Hawkins Water
Treatment sites in that region.”
Mr. Hawkins continued, “The acquisitions of Water Solutions and
Miami Products will add over 90 employees to the Hawkins family and
is expected to add $10 million in earnings before interest, taxes,
depreciation and amortization within three years. While we expect
to release the quarter’s full results on November 1, as of the end
of our second quarter, our outstanding debt was $60 million and we
expect that even after these acquisitions our balance sheet will
remain strong with our leverage ratio at approximately 1x.”
“On behalf of the entire Hawkins organization, I welcome the
teams of Water Solutions and Miami Products to the Hawkins family
and look forward to continued success together in the future,” Mr.
Hawkins concluded.
About Hawkins, Inc.
Hawkins, Inc. was founded in 1938 and is a leading specialty
chemical and ingredients company that formulates, distributes,
blends, and manufactures products for its Industrial, Water
Treatment, and Health & Nutrition customers. Headquartered in
Roseville, Minnesota, the Company will have 58 facilities in 26
states following these acquisitions and creates value for its
customers through superb customer service and support, quality
products and personalized applications. Hawkins, Inc. generated
$935 million of revenue in fiscal 2023 and will have approximately
950 employees. For more information, including registering to
receive email alerts, please visit
www.hawkinsinc.com/investors.
Contacts:
Jeffrey P. Oldenkamp
Executive Vice President and Chief Financial Officer
612/331-6910
ir@hawkinsinc.com
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