MANAMA: United International Bank (UIB) has bought BWA Water Additives, a water treatment solution provider, from Close Brothers Private Equity.
Headquartered in the UK, BWA Water Additives has been operating for over 35 years with laboratories in the UK and US.
The company is a specialist in the development and marketing of high performance speciality chemicals for water treatment. It has developed a high performance product line to meet customer requirements in over 85 countries.
The application portfolio is well placed in three attractive and high growth segments: water desalination, industrial water treatment processes, and secondary oil recovery.
The company’s products are used to control and prevent corrosion of iron or steel, inorganic deposits on the surface of pumps and pipes and treat microbiological growth in process water, all of which represent significant operating issues for end users.
“This acquisition will help UIB establish a presence in this important space and we look forward to exploiting the synergies of both companies to gain a competitive advantage,” said UIB chairman Asaad Albanwan.