Severn Trent - North America Now A Standalone American Company
U.S. Infrastructure Services Leader Brings New Focus and Resources to North American Municipalities, Industries and Local Districts
(firmenpresse) - HORSHAM, PA -- (Marketwired) -- 07/03/17 -- Severn Trent - North America announced today that its UK parent, Severn Trent Plc. (LSE: SVT.L), has approved a plan to sell the North American business operations, forming a standalone American company. The U.S. business will now be owned by a group led by the current U.S. management team and backed by U.S. Investors with an emphasis on the infrastructure and industrial sectors, PPC Enterprises LLC and Alston Capital Partners LLC. The separation is effective immediately.
The transaction enables the new independent company to sharpen its focus on the North American market while allowing the UK parent company to focus on its core markets in the UK and Ireland. The new standalone company will have a new name and corporate identity by the end of the year. In the interim, it will continue to use its current name, Severn Trent - North America.
"This move is the next step in our long-term commitment to strengthening water and local public infrastructure in North America," said Stephane Bouvier, CEO of Severn Trent - North America. "As a standalone American infrastructure services leader, we are now in an even stronger position to help our customers more effectively solve the growing challenges of water and wastewater treatment and the management of community infrastructure."
Severn Trent - North America currently serves a strong and growing client base in key municipal and industrial sectors across the U.S. Led by its existing management and leadership team, it will expand and enhance its services, investments and innovations across its core areas, including: operation and maintenance of water and wastewater systems, management of community infrastructure, and related services. Over the coming years, the company will invest significantly in capabilities and technologies that will continue to deliver more value to its customers.
"This is the right move at the right time," said Bouvier. "It increases the flexibility, speed and agility that today''s infrastructure owners demand. Municipalities, industry and local communities, especially mid-market, face unprecedented challenges in managing and delivering key services. This puts us in the strongest position possible to be their long-term partner."
Severn Trent - North America () is a standalone American infrastructure services company focused on operation and maintenance of water and wastewater systems, management of community infrastructure, and related services.
With more than 40 years of experience in managing water-related assets, the company employs more than 1,500 people serving more than 200 clients in 19 states. Its North American operations treats 497 million gallons of drinking water a day through 168 facilities, spanning more than 8,000 miles of collection and distribution lines. It also operates 208 wastewater facilities, treating 465 million gallons of waste water a day.
Following its separation from its UK parent company in June of 2017, the company currently operates under its original name, Severn Trent - North America. It will be launching a new name, logo and standalone website by the end of the year.
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Datum: 03.07.2017 - 06:00 Uhr
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