Badger Meter announced it has acquired SmartCover Systems from XPV Water Partners for $185 million. The transaction, funded with available cash, adds real-time monitoring of collection systems, with a focus on sewer line and lift station monitoring, to Badger Meter’s portfolio of water solutions.
SmartCover, with approximately $35 million in annual revenue, provides sensors, software and related services to monitor sewer levels 24/7, determining changes in patterns and automatically alerting utilities to potential issues. Its sewer line solutions help utilities in predicting, detecting and preventing sewer overflow spills, saving money while protecting public health and the environment.
Sewerball: The Art of Managing Storm and Wastewater with Data
Since investing in the company, XPV Water Partners has worked with SmartCover to build a world-class team, broaden and strengthen its offerings and rapidly grow its customer base. In 2023, SmartCover acquired Data Flow Systems, adding the ability to provide lift station monitoring and control hardware and software solutions.
“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,” said Kenneth C. Bockhorst, chairman, president and CEO of Badger Meter. “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. Given its high annual recurring software and support model, we believe that leveraging our world-class Badger Meter sales network to accelerate municipal adoption of SmartCover’s solutions will enhance shareholder value over the long term.”
“We’re excited to join forces with Badger Meter to enable water utilities to more effectively deal with the range of challenges associated with aging infrastructure, limited resources, and the impact of severe weather events on system resiliency,” said Corey Williams, president and CEO of SmartCover. “The innovation and leadership in the smart water management space makes Badger Meter a natural home for our market-leading collection system monitoring technologies. Together, we will aid customers in visualizing and optimally managing the full extent of their wastewater management systems.”
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