CECO Environmental Acquires Index Water For Undisclosed Sum

• CECO Environmental Corp. (NASDAQ:CECE) has acquired substantially all of the assets of Index Water, expanding its water treatment solutions portfolio serving the Middle East region. Deal terms were not disclosed.
• This acquisition adds new customers, intellectual property, and depth to the technology stack. CECO strengthens its water treatment solutions with this acquisition, coupled with the recently announced acquisition of GRC.
• Related: CECO To Acquire Rubber Expansion Joints Manufacturer GRC For Undisclosed Sum
• "With the addition of the Index Water assets, we have expanded our leadership presence and addressable water market in more than 10 countries by at least $200 million, and it allows us to further leverage the brand and capabilities across the globe," said CEO Todd Gleason.
• CECO Environmental held $32 million in cash and equivalents as of December 31, 2021,
• Price Action: CECE shares traded lower by 3.94% at $4.88 on the last check Thursday.