Cantel Medical Buys Pure Water Solutions For $11.9 Mln

(RTTNews) - Cantel Medical Corp. (CMN) said Friday that it has bought Pure Water Solutions, Inc. for $11.9 million in cash.

Headquartered in Ridgeland, Mississippi, Pure Water Solutions provides water purification and treatment services for commercial and industrial, laboratory and medical customers out of eight regional offices throughout the Southeastern United States. The company had pre-acquisition unaudited revenues and EBITDA of just over $8 million and $2 million, respectively, for the trailing twelve months.

The deal is expected to be neutral to Cantel's earnings per share in fiscal 2015 and slightly accretive to its adjusted earnings per share in fiscal 2015, and is expected to be accretive on both a reported and adjusted basis thereafter.