Italy-based Industrie De Nora has signed an agreement to wholly acquire Singapore-based BW Water in a deal between $61.5 million and $66.5 million.

In a statement on Tuesday, Industrie De Nora, a water management company, said the acquisition would strengthen its position in the water treatment sector by combining its technology capabilities with BW Water’s engineering and system integration expertise. The deal would also expand its presence in Southeast Asia and support access to projects requiring integrated turnkey solutions, the firm highlighted.

Chief Executive Paolo Dellachà said the transaction aligns with De Nora’s long-term strategy in water treatment and would support its expansion into markets including semiconductors, desalination, mining, pharmaceuticals and food.

Singapore-headquartered BW Water provides water treatment solutions and operates across Southeast Asia, the United States, Germany and Italy. BW Water operates as an engineering, procurement and fabrication provider, serving sectors including semiconductors, mining, pharmaceuticals and food and beverage. The company has an engineering hub in the Philippines and manufacturing facilities in Malaysia and Germany.

BW Water reported revenue of $91.5 million in 2025, up 7 percent from the previous year and more than double its 2023 revenue of $40 million. As of April 2026, the company’s backlog stood at around $190 million, with projected 2026 revenue of about $130 million.

Industrie expects to generate annual cost synergies of about $7 million over three years following the acquisition. The deal is expected to close on July 1, subject to regulatory approvals.

De Nora said it will finance the acquisition mainly through a €60 million ($69.8 million) term loan facility provided by a group of banks including UniCredit, Banca Nazionale del Lavoro, Crédit Agricole Corporate and Investment Bank, Intesa Sanpaolo, and Mediobanca.

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