Hassan Allam acquires controlling stake in German water treatment company
M&A WATCH- Hassan Allam buys majority stake in German water treatment company: Hassan Allam Holding B.V. has acquired a controlling stake in German water treatment firm Bioworks AG, the company announced in a statement (pdf). This is Hassan Allam’s first European acquisition as it pushes ahead with an expansion into the waste and water treatment sector. The founders of Bioworks will continue to manage the company’s operations following the acquisition. “We are very excited to welcome the advanced technology and global expertise of Bioworks to our group of companies,” CEO Hassan Allam said. “Water poverty is a global concern, and with investments like these, Hassam Allam advances its efforts to be part of the solution.”
Bioworks AG describes itself as a global player in the design and construction of extended aeration process water treatment systems. The company has completed 120 projects in 25 countries around the world and has a strong footprint in the MENA region, as well in Europe and the US.