Advertisement

CALIFORNIA: News and Insights on Business in the Golden
State | THE STATE / WATER TREATMENT

U.S. Filter to Purchase Kinetics Group

January 06, 1998|Bloomberg News

U.S. Filter Corp. agreed to acquire Kinetics Group Inc. for about $220 million in stock and assumed debt, adding industrial piping to its water and waste-water treatment systems. The company will buy closely held Kinetics for about $170 million in stock and the assumption of about $50 million in debt, said U.S. Filter spokesman Tim Traff. The announcement is the latest in a string of acquisitions by the Palm Desert-based water-treatment company. In its fiscal third quarter ended Dec. 31, U.S. Filter completed 24 acquisitions. Kinetics, based in Santa Clara, makes piping systems used in the pharmaceutical, biotechnology and semiconductor industries. U.S. Filter said Kinetics' project management expertise and U.S. Filter's equipment and technology will allow the company to offer a combination of services to customers. Shares of U.S. Filter rose 88 cents to close at $30.81 on the NYSE.

Advertisement
Los Angeles Times Articles
|
|
|