US ENGINEERING giant General Electric (GE) yesterday said its water business had agreed to buy UK-based company Monsal, to expand its capabilities in the renewable energy sector.
Monsal, which is owned by investment firms Mobeus Equity and Four Winds Capital Management, is an environmental technology firm that converts biosolids and biowaste into renewable energy.
“For many years, GE has been working to further the development of water re-use, wastewater and tough-to-treat water technologies,” said Heiner Markhoff, president and chief executive of water and process technologies for GE’s power and water division.
“The acquisition of Monsal, with its advanced anaerobic digestion technology, will enable us to provide our customers with more energy-efficient options for water treatment solutions.”
The value and timeframe for completion of the deal were not disclosed. A GE spokesperson told City A.M. that the acquisition would not have an immediate impact on staff numbers.
“Joining the GE family will allow Monsal to bring our technologies to a significantly broader audience as well as give us research and development capabilities at a much larger scale than we have now. We expect to expand our product and technology range with the GE resource,” said Aidan Cumiskey, managing director at Monsal.