SDIX Sells Water Quality Product Line
Modern Water stated that the acquisition would expand the distribution of its water quality products in the North America and that it could distribute the acquired products in China and Asia. Modern Water’s water monitoring products include the Cymtox Continuous Toxicity Monitor as well as portable and online systems for monitoring heavy metals in water.
Newark, DE 11/11/11; London, UK 11/11/11; Newark, DE 12/9/11; London, UK 12/9/11—Antibody solutions firm SDIX has sold its Water Quality division to Modern Water, a publicly held UK firm that provides technology for water desalination and monitoring, for $4.5 million. The sale includes the division’s intellectual property, inventory, commercial contracts, equipment and staff. The division offers products for detecting contaminants in soil and water, including the Microtox biosensor testing technology. The division had 2010 sales of $4.8 million and a gross profit of $2.7 million. “There are clear synergies between our existing portfolio of water monitoring products, as both Cymtox and Microtox use the same platform bioluminescent technology for water toxicity monitoring,” said Modern Water Chief Executive Simon Humphrey. SDIX said that the sale allows it to focus on its Life Science and Food Safety businesses. The sale is expected to close in the fourth quarter.
