De Nora acquires BW Water

Italian water technology firm De Nora has agreed to acquire Singapore-based BW Water, a move that aims to broaden its portfolio in global water and wastewater solutions. This acquisition is strategically significant for De Nora as it seeks to enhance its capabilities in integrated water management across international growth markets.

The acquisition involves De Nora purchasing 100% of BW Water from BW Renewables. While financial specifics remain undisclosed, the enterprise value of the transaction is expected to lie between USD 61.5 million and USD 66.5 million. The completion of the deal is targeted for 1 July 2026, pending regulatory clearances and standard closing conditions. In 2025, BW Water recorded revenues of USD 91.5 million and maintained a project pipeline worth approximately USD 190 million by April 2026, reflecting its active engagement in industrial and municipal water markets.

This acquisition will marry De Nora’s expertise in electrochemical technologies and water treatment with BW Water’s proficiency in engineering, procurement, and fabrication. The merger will strengthen De Nora’s offering in high-demand sectors such as semiconductors, desalination, and mining, enhancing its engineering prowess and geographical presence especially in Southeast Asia. BW Water's operations, including an engineering hub in the Philippines and production facilities in Germany and Malaysia, will become integral to De Nora’s expansion strategy.

In the broader context, this deal reinforces De Nora’s ambition to address global water scarcity and contamination issues, aligning with emerging trends in circular water management. It underscores the importance of recovering and reusing critical materials from industrial waste streams, a capability highlighted by BW Water's expertise in separating tetramethylammonium hydroxide (TMAH) from semiconductor manufacturing processes. This approach is gaining traction amid mounting environmental challenges and regulatory scrutiny.

Looking ahead, the deal is contingent upon obtaining necessary regulatory approvals and fulfilling customary closing conditions. As De Nora and BW Water integrate operations, the combined entity will focus on expediting the delivery of comprehensive water solutions with an emphasis on advanced infrastructure for industries with complex treatment needs. This acquisition marks a potentially transformative phase in De Nora’s global strategy, potentially setting a precedent for further consolidation in the water technology sector.