Hawkins Inc (NASDAQ:HWKN) has finalized the buyout of EcoTech Enterprises, Inc. for an undisclosed amount.
The acquisition boosted the company’s presence in the water treatment business by adding its 40th location.
EcoTech manufactures and offers water treatment chemicals to customers across Arkansas and surrounding states.
“As we continue to execute on our strategy to grow our water treatment business, we believe this tuck-in acquisition will allow us to accelerate our growth in Arkansas and the surrounding region. Ecotech has built a strong business that is well-connected with the local community and we intend to maintain those connections. I would like to welcome the EcoTech team to the Hawkins organization and look forward to our continued growth together,” said CEO Patrick H. Hawkins.
As of April 2, 2023, the company held cash and cash equivalent of $7.5 million and net debt of $104 million.
Price Action: HWKN shares are trading higher by 1.88% at $47.19 on the last check Friday.
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