Badger Meter acquires SmartCover Systems from XPV Water Partners for $185M

Badger Meter (BMI) announced the acquisition of SmartCover Systems from XPV Water Partners, for $185M. The transaction, funded with available cash, adds real-time monitoring of utility water collection systems, with a focus on sewer line and lift station monitoring, to the network monitoring applications already offered under Badger Meter’s BlueEdge suite of water management solutions. SmartCover, with approximately $35M 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.