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RNS Number : 5475W
Waterlogic PLC
01 February 2012
1 February 2012
Waterlogic Plc
("Waterlogic" or the "Company")
Announces acquisition of Prisme S.A.R.L.
Waterlogic Plc (AIM: WTL.L), a leading manufacturer and global
distributor of point-of-use ("POU") drinking water purification and
dispensing systems, is pleased to announce that it has acquired the
entire issued share capital of Prisme S.A.R.L. ("Prisme"), a vendor
of POU dispensers based in the south of France, for a total cash
consideration of USD 1.49 million.
Prisme has an existing contracted customer base of nearly 2,400
POU water dispensers predominantly in the south of France.
Following completion, Prisme will be merged into Waterlogic
France throughout the 2012 financial year, with the aim of driving
turnover and profit growth by achieving synergies and cost savings
in the combined entity.
The audited financial statements of Prisme for the full year
ending 31 October 2011 showed revenues of USD 1.04 million and
adjusted EBITDA of USD 0.42 million (adjusted after adding back
non-recurring payments made to shareholders).
Jeremy Ben-David, Waterlogic, Group CEO, commented:
"We are excited to announce the acquisition of Prisme, our
second of 2012, which represents an excellent 'bolt-on' to our
existing operations in France.
Prisme is a profitable and highly complementary business, having
been a successful and long standing dealer, renting and selling
Waterlogic water dispensers for many years.
We are making good progress with our attractive pipeline of
future acquisition opportunities and we look forward to updating
shareholders in due course."
Philippe Barnetche, MD of Waterlogic France, commented:
"The acquisition of Prisme will increase Waterlogic's presence
in the south of France and support further growth nationally. We
have known the Prisme team for a long time and look forward to
working more closely with them going forward."
Enquiries:
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Email: waterlogic@kreabgavinanderson.com
Executive Officer
Steve Harrison, Group Chief Financial
Officer
Liberum Capital (Nominated Adviser Tel: +44 (0)20 3100 2000
and Broker)
Steve Pearce
Richard Bootle
Kreab Gavin Anderson (PR Adviser) Tel: +44 (0)20 7074 1800
James Benjamin Email: waterlogic@kreabgavinanderson.com
Natalie Biasin
Madeleine Palmstierna
Website: www.waterlogic.com
Notes to editors:
Waterlogic Plc:
Waterlogic Plc (AIM: WTL.L) is a leading manufacturer and global
distributor of mains attached point-of-use ("POU") drinking water
purification and dispensing systems designed for environments such
as offices, factories, hospitals, hotels, schools, restaurants and
other workplaces. Waterlogic is a Jersey registered company.
Waterlogic was one of the first companies to introduce POU
systems to Europe and has been a leader in the POU market in terms
of product design and quality, the application of new technologies
and in sales and service. Waterlogic has an extensive and expanding
independent global distribution network in place, reaching 50
countries across five continents.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are the US and Western Europe in particular,
Germany, France, Norway, Sweden and the UK. Of the 1.5 million new
installations in the business-to-business market between 2005 and
2010, approximately 73% incorporated POU technology of which
Waterlogic had a 26% market share.
The Directors believe that the movement away from bottled water
coolers (BWC) to POU water dispensers is set to continue its
current trend as a result of cost, convenience, health benefits and
environmental considerations.
Waterlogic's Firewall(TM) ultra-violet (UV) technology is one of
the most effective water purification technologies for POU water
dispenser applications currently on the market and is the only
technology certified as being able to guarantee 99.9999% pure water
100% of the time, a fact which has been confirmed by over 5,000
physical tests in independent laboratories. The innovative
Firewall(TM) technology incorporates a highly-specialised, compact
UV system in the faucet/tap, which ensures that water passes
through the UV system immediately before it is dispensed into a
cup. This point of differentiation for Firewall(TM) is unique in
the POU market.
For the financial year ended 31 December 2010, the Group
generated revenues and adjusted EBITDA of USD 68.3 million and USD
11.4 million, respectively, and had approximately 500,000 machines
installed as at 31 December 2010.
As part of Waterlogic's ongoing commitment to providing safe
water, the Group has pledged to donate USD 225,000 over the next
three years to WaterAid. WaterAid is a renowned international
non-profit organisation that transforms lives by improving access
to safe water, hygiene and sanitation in the world's poorest
countries. Since 1981 WaterAid has reached 15.9 million people
globally with safe water. Website: www.wateraidamerica.org/
Prisme S.A.R.L.:
Founded in 1997, Prisme S.A.R.L. specialises in the installation
and maintenance of POU water dispensers. Operating in the south of
France, Prisme has become known for high quality installation and
service.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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