Headwaters MB advised MIOX Corporation (“MIOX” or the “Company”), a provider of best-in-class, proprietary, on-site water disinfection chemical generation solution, on its sale to Johnson Matthey.
MIOX designs and manufactures equipment based on its proprietary technology for on-site disinfectant generation primarily for water treatment applications. These applications are used for cooling tower water treatment, municipal drinking water treatment, municipal and industrial waste water treatment, food & beverage clean-in-place (CIP), and oil & gas applications including offshore (sulfate removal process), enhanced oil recovery, produced water treatment and frac water treatment among others. The Company has experienced nearly 50% growth annually for the last couple of years due to greater market penetration and proven superior performance of its on-site disinfection chemistry. In addition, MIOX’s portfolio of 40+ patents have uniquely positioned them to pursue additional disinfection applications in water and other cleaning and safety needs in industrial & commercial markets.
This acquisition represents Johnson Matthey’s continued expansion into water technology. MIOX will become part of Johnson Matthey’s Water Technologies business within its New Businesses Division.
“We were honored to work with MIOX’s management team and investors, which among others included DCM, Sierra Ventures and Flywheel Ventures, to find a successful exit to a strategic party through an expeditious process. Johnson Matthey is uniquely positioned to fully exploit MIOX’s market potential, advance its core electrolytic cell technology and potentially commercialize other patented technologies” said Samrat Karnik, Managing Director at Headwaters MB.
Headwaters MB acted as exclusive financial advisor to MIOX Corporation. Terms of the transaction were not disclosed. MIOX represents the third successful advisory assignment in the past two years for Headwaters’ industrial technology practice.
About MIOX Corporation
Founded in 1994 in Albuquerque, NM, MIOX Corporation designs and manufactures systems that provide on-demand disinfection chemistry, eliminating the need to transport hazardous chemicals and reducing carbon footprint. MIOX systems are used in multiple applications through a wide range of products, cost-effectively producing disinfection chemistry from 1.0 to 3,000 pounds per day FAC (free available chlorine). With this flexibility, the applications range from large industrial cooling towers, legionella elimination and prevention, water and wastewater treatment for cities, industrial facilities and farming, and produced and frac water disinfection for reuse in the oil and gas field.. For more information, visit www.miox.com.
About Johnson Matthey
Johnson Matthey is a leading specialty chemicals company based in London. With an expertise in advanced materials and technology, Johnson Matthey creates and improves solutions that optimize the use of natural resources and enhance the quality of life for the people of the world, both for today and for the future. For more information, visit www.matthey.com.