Badger Meter completed the acquisition of SmartCover from XPV Water Partners for $185m.

Badger Meter, a provider of smart water solutions encompassing flow measurement, water quality and pressure monitoring, completed the acquisition of SmartCover, a technology provider specializing in wastewater solutions, from XPV Water Partners for $185m. “SmartCover fits directly into our BlueEdge suite of hardware-enabled software solutions, enhancing the scope of data, information and analytics that collectively strengthen our customers’ water management practices. We hear from our customers with greater frequency that extreme weather events will often cause significant problems for municipal water infrastructure. SmartCover is the market leader in the fast-growing stormwater management space, which is in the very early stages of adoption in North America and other regional markets in which we operate. In addition to its hardware sales, SmartCover generates meaningful annual recurring software and support revenues. By leveraging our world-class Badger Meter sales network to accelerate municipal adoption of SmartCover’s solutions, we will enhance shareholder value over the long term,” Kenneth C. Bockhorst, Badger Meter Chairman, President and CEO.