Hobbs & Towne client NanoH2O to be acquired by LG Chem
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Hobbs & Towne client NanoH2O to be acquired by LG Chem

Long-time Hobbs & Towne client, NanoH2O Inc., a manufacturer of reverse-osmosis membranes that purify seawater to drinking quality while lowering the cost of desalination, is being purchased by Seoul-based LG Chem Ltd. (051910) for $200 million.

The Southern California startup, established in 2005 from research that stemmed from the University of California at Los Angeles, makes water potable from fresh, brackish and saltwater sources. The acquisition is expected to close next month, LG Chem said in a filing to the Korea Exchange on March 14.

Hobbs & Towne has placed 4 executives at NanoH2O: Chief Operating Officer, Chief Technology Officer, Vice President of Manufacturing, and Vice President of Market Development.

Congratulations to our friends at NanoH2O!

For the full article, click here.

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