Desotec US LLC entered into a definitive agreement to acquire Carbon Reactivation and Slurry Services Business of Evoqua Water Technologies Corp. (NYSE:AQUA) on February 14, 2023. Gross proceeds upon closing of the transaction are anticipated to be approximately $100 million. After close, Evoqua will enter into a supply agreement with DESOTEC for reactivated carbon to continue to service its customers. Transaction is subject to subject to customary terms, regulatory approvals, and closing conditions. Transaction is expected to close during Evoqua's third quarter of fiscal 2023, which ends June 30, 2023. As of March 31, 2023, the transaction had not closed and is expected to close in the third quarter of 2023. Houlihan Lokey, Inc. acted as financial advisor to Evoqua Water Technologies Corp. in the transaction.

Desotec US LLC completed the acquisition of Carbon Reactivation and Slurry Services Business of Evoqua Water Technologies Corp. (NYSE:AQUA) on June 16, 2023. The acquisition includes Evoqua?s product lines? workforce, reactivation facilities and associated equipment in Darlington (Pennsylvania) and Parker (Arizona), and the reactivation and carbon vessel manufacturing facility in Red Bluff (California).