Twin Cities-based water tech firm sold for $134M

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Bilfinger, Germany's second-largest construction company, has reached a deal to acquire New Brighton, Minn.-based Johnson Screens Inc., a maker of water-treatment equipment, the Star Tribune reports.

Terms of the deal were not initially disclosed, but Bilfinger's CFO told Reuters the company will pay nearly $134 million.

Johnson Screens was founded in St. Paul more than 100 years ago and is owned by Switzerland-based Weatherford International. It employs roughly 1,200 people around the world, including 250 in Minnesota. A spokesman declined to tell Twin Cities Business whether the company will still based in Minnesota or if the merger will lead to any layoffs.

Click here, to read the news release.

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