Agilitas taps Raymond James for Hydro International upcoming sale

The business, which provides wastewater services and products, is expected to be marketed off annual EBITDA in the region of USD 20m, according to one of the sources and a third familiar with the matter. It generates more than half of its revenue from the US, the third source pointed out.

Under Agilitas' ownership, Hydro International has executed at least two bolt-on acquisitions – UK-based Oxford Scientific Software in 2018 and M&N Electrical in 2019.

Prior to Agilitas' takeover, Hydro International was owned by Hanover, which paid GBP 28m for the firm in 2016.

Hydro International is headquartered in the UK, with significant US operations, and has operated in the water-management sector since the 1980s. Its customers rely on the company to improve their water-management processes and operational performance, while reducing environmental impact.

Hydro International's wastewater division provides products and services for wastewater treatment plants and touts itself as a leader in grit removal equipment, while its stormwater division focuses on control, storage and quality management for stormwater run-off.

Agilitas declined to comment. Raymond James did not respond to a request for comment.

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