H2O Innovation, Québec City, Québec, Canada, a designer of water and wastewater treatment systems, has acquired all of the outstanding shares of Itasca Systems, Inc., Minneapolis, for about $18.5 million.
Itasca Systems designs, builds and services membrane-based filtration systems for industrial process water treatment; it recorded $13.1 million in sales and $2.7 million in net income during 2007 and has a current backlog of $1.8 million.
Since its founding in 1995, Itasca has installed 150 water treatment systems for many industrial applications related to the energy sector, including power generation plants and ethanol production facilities, as well as for food-processing facilities and municipal water treatment plants.
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