Mexico City— Mexican rotomoulder Grupo Rotoplas SAB de CV is to acquire a minority stake in Texas-based water management software company Banyan Water Inc. for an undisclosed amount.
Rotoplas will develop software for its products and services jointly with the Austin-based company, it said in a Nov. 19 press release. He will also have exclusive marketing rights in Latin America for said software and a seat on Banyan’s board of directors.
With about 20 manufacturing plants across the Americas, Rotoplas sold all of its U.S. manufacturing assets to Tank Holding Corp., of Nebraska and Minnesota, in July 2019 to focus, he said. , on its e-commerce platform north of the border. The three facilities sold are in California, Georgia and Texas.
Rotoplas has 27 product lines and specializes in the storage, channeling, improvement, treatment and recycling of water. In business for more than 40 years, it has been listed on the Mexican Stock Exchange since 2014.
Banyan was established in 2011 to “deliver water savings to commercial real estate customers” in the United States.
“We currently have over 733 million gallons of water under management and growing nationally,” it says on its website.