# H2O Innovation acquires Gulf Utility Service for $2.8 million

H2O Innovation Inc. acquired Gulf Utility Service, Inc. for $2.8 million on July 1, 2020. The consideration includes $1.875 million paid at closing and up to $0.875 million subject to revenue targets. Gulf Utility Service reported $6.8 million in revenues and $0.7 million EBITDA in 2019.

- Type: Acquisition
- Announced: 2020-07-01
- Where: Texas, United States
- Value: $2.80M
- Jobs: 30
- Status: completed
- Products: utility services
- Sectors: [Water Treatment Equipment](https://endata.com/sectors/water-treatment-equipment.md)

## Companies

- [H2O Innovation Inc](https://endata.com/companies/20298.md) (acquirer)
- [Gulf Utility Service](https://endata.com/companies/48295.md) (target)

## Sources

- [marketscreener.com](https://www.marketscreener.com/quote/stock/H2O-INNOVATION-INC-18727031/news/H2O-Innovation-Inc-acquired-Gulf-Utility-Service-Inc-for-2-8-million-33797149/), 2020-07-01: "H2O Innovation Inc. acquired Gulf Utility Service, Inc. for $2.8 million on July 1, 2020."
- [einpresswire.com](https://www.einpresswire.com/article/520828018/h2o-innovation-expands-texas-o-m-business-platform-with-gulf-utility-service-inc-acquisition), 2020-07-02: "This acquisition consolidates our position as operator of water and wastewater utilities in Texas and will allow us to capture synergies and more efficiency in our operations management, more specifically in the Greater Houston Area."
- [filtsep.com](https://www.filtsep.com/content/news/h2o-innovation-expands-in-texas), 2020-07-08: "This acquisition consolidates our position as operator of water and wastewater utilities in Texas and will allow us to capture synergies and more efficiency in our operations management, more specifically in the Greater Houston Area."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.