Completion of Acquisition of DSK for USD 1.46M (5476W)
01 Februar 2012 - 8:00AM
UK Regulatory
TIDMWTL
RNS Number : 5476W
Waterlogic PLC
01 February 2012
1 February 2012
Waterlogic Plc
("Waterlogic" or the "Company")
Completion of Acquisition of DSK for USD 1.46 million
Further to the announcement on 6 January, Waterlogic Plc (AIM:
WTL.L), a leading manufacturer and global distributor of
point-of-use ("POU") drinking water purification and dispensing
systems, announces today that is has completed the acquisition of
the entire issued share capital of Det Stavangerske Kaffeselskap
("DSK"), a leading vendor of water dispensers and coffee machines
based in Norway, for a total cash consideration of USD 1.46
million. The acquisition was approved by the Norwegian Competition
Authority.
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/
Det Stavangerske Kaffeselskap:
Det Stavangerske Kaffeselskap, a leading vendor of water
dispensers and coffee machines, was founded in 1990 providing
beverage solutions to businesses located in the region of Rogaland.
DSK sells coffee and water dispensers supplied by Aequator, Asset,
Bianchi, Bravilor Bonamat and Escowa (the Waterlogic subsidiary in
Sweden).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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