Suez and CDPQ sealed acquisition of GE Water & Process Technologies

French utility Suez, together with Canadian institutional investor Caisse de dépÎt et placement du Québec (CDPQ), has sealed its acquisition of GE Water & Process Technologies in a US$3.4 billion deal.

The acquisition strengthens Suez’s position in industrial water, particularly in the US and emerging markets. GE Water & Process Technologies had 2016 revenues of approximately US$2.1 billion and around 7500 employees.

Suez has formed a Water Technologies & Solutions business unit which brings together the acquired business and Suez’s own industrial service activities. Headed up by Heiner Markhoff, the former president and CEO of GE Water, Suez Water [