Waltham-Based Water Technology Company to Acquire Fort Collins Environmental Monitoring Manufacturer In-Situ
Veralto Corporation has entered into an agreement to acquire In-Situ, a Fort Collins manufacturer of water monitoring equipment, for $435 million in a transaction expected to close during the first quarter of 2026.
The acquisition brings together In-Situ's groundwater and surface water quality monitoring technology with Veralto's existing water analytics portfolio, expanding the combined company's presence in environmental water measurement markets. In-Situ employs approximately 170 to 220 workers at its headquarters at 221 East Lincoln Avenue in Fort Collins.
Founded in 1976 in Laramie, Wyoming, In-Situ relocated to Fort Collins in the early 1980s and has operated in Larimer County for approximately 40 years. The company designs and manufactures water quality sondes, sensors, data management software and telemetry systems used to monitor groundwater and surface water conditions.
"As a premier provider of water analytic technologies, In-Situ enables Veralto to tap into faster growing applications within the water ecosystem that are essential for public health and economic security while providing an ideal complement to OTT HydroMet's product portfolio within our Water Quality segment," said Jennifer L. Honeycutt, Veralto's president and chief executive officer.
Financial Structure and Integration Plans
The purchase price after considering estimated tax benefits is approximately $422 million, according to the announcement. Veralto expects to fund the deal with cash on hand.
In-Situ is expected to generate approximately $80 million in sales during 2025 with gross margins of about 50 percent and mid-teens EBITDA margins. The company has averaged high-single digit sales growth over the past three years.
Veralto estimates pre-tax cost synergies of approximately $11 million by the end of year three following completion of the transaction. The company anticipates additional commercial synergies from combining In-Situ with its existing OTT HydroMet product portfolio.
The transaction requires regulatory clearance under the Hart-Scott-Rodino Antitrust Improvements Act, which mandates Federal Trade Commission review of acquisitions exceeding $119.5 million. The standard antitrust review process typically involves a 30-day initial waiting period following submission of required filings.
Water Monitoring Technology Applications
In-Situ's product portfolio includes the Level TROLL and Aqua TROLL series for multi-parameter water quality measurements, along with data loggers, remote telemetry systems and cloud-based software platforms for real-time data access.
The company's equipment is used for groundwater and surface water monitoring, environmental compliance, drinking water and wastewater treatment optimization, and agricultural and municipal water resource management. Local utilities, environmental consultants and water managers throughout Colorado use In-Situ equipment for river, reservoir and aquifer monitoring projects.
The combination with Veralto's OTT HydroMet business creates expanded capabilities across surface and groundwater quality monitoring applications. Veralto operates as a global water and product quality technology company with nearly 17,000 employees and annual sales exceeding $5 billion.
"As I reflect on In-Situ's journey and this next exciting chapter with Veralto, I'm filled with gratitude for the extraordinary people who have poured their talent and passion into this company," said Christopher McKee, chairman of In-Situ. "Today, we carry their legacy forward, joining Veralto in a powerful combination that will accelerate our global growth and deliver even stronger solutions to protect the environment and improve lives around the world."
Regional Water Technology Sector
In-Situ represents a significant component of Fort Collins and Northern Colorado's water technology and environmental monitoring cluster. The company has maintained partnerships with United Way of Larimer County and other regional organizations throughout its four decades of operations in the area.
The acquisition follows other recent consolidations in Northern Colorado's precision manufacturing sector. Fort Collins medical device manufacturer Injectech was acquired by Los Angeles-based private equity firm Vance Street Capital in November.
Veralto announced separately that its board of directors has authorized a share repurchase program for up to $750 million of common stock. Under the program, share repurchases may be executed over time through various methods at the company's discretion.
The transaction is subject to customary closing conditions including regulatory approvals and final purchase price adjustments based on working capital and debt levels at closing. Veralto is headquartered in Waltham, Massachusetts and trades on the New York Stock Exchange under the symbol VLTO.