Allete sells water subsidiary to Japan’s Kurita for $270 million

Duluth-based Allete Inc.has closed on the sale of its U.S. Water Services subsidiary to Kurita Water Industries, a Japanese water management company based in Tokyo. The sale, which was announced in February, was valued at $270 million.

U.S. Water Services manufactures water treatment and filtration equipment, and is based out of St. Michael, Minn. It serves about 5,000 customers. Allete paid $168 million for an 87 percent stake in U.S. Water Services in 2015 and later bought the business outright.



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