Biwater Holdings has agreed to sell its UK subsidiary Biwater Services to MWH Constructors, the UK construction arm of US water specialist MWH Global.
The sale of Biwater Holdings will mean the remaining Biwater business is focused purely on international markets, rather than the regulated water sector in the UK.
The sale is part of a wider strategic realignment for Biwater Holdings and follows the disposal of its interest in Cascal NV, the New York Stock Exchange-listed operator of water and wastewater treatment plants, in July 2010.
Biwater Services is a wholly-owned subsidiary of Biwater Holdings and is based in Heywood, Manchester. The company acts as the holding company for Biwater Treatment, Farrer Consulting and BiProduct Recovery.
Biwater Treatment is a UK-based engineering contractor in the water and wastewater treatment sector. The company is primarily active in designing and project managing the construction of water and wastewater treatment plants for regulated water companies across the UK.
Biwater Holdings chief executive Larry Magor said: “We are pleased to announce the sale of Biwater Services to MWH Global which completes Biwater Holding’s period of strategic realignment. The company will continue with its successful core strategy of securing export and project financed projects in the international water and wastewater market.
“Following the sale we look forward to maintaining our relationship with the Manchester team and working with MWH on future projects.”
No financial terms regarding the sale were disclosed.
MWH is a private, employee-owned firm with offices in 34 countries on six continents.