TIDMWTL
RNS Number : 7275K
Waterlogic PLC
24 August 2012
24 August 2012
Waterlogic Plc
("Waterlogic" or the "Company")
Acquisition of Taylor Made Water Systems Inc.
Waterlogic Plc (AIM: WTL.L), a leading designer, manufacturer
and global distributor of point-of-use ("POU") drinking water
purification and dispensing systems, is pleased to announce that it
has agreed to acquire the entire share capital of Taylor Made Water
Systems Inc. ("Taylor Made"), a well-regarded vendor of water
dispensers and coffee machines based in Northern California, USA
from the Taylor family.
Taylor Made has an existing installed base of over 4,800 water
dispenser and coffee machines located in the San Francisco bay
area. Following completion, Taylor Made will become a subsidiary of
Waterlogic USA, the Company's US division.
The unaudited financial statements of Taylor Made for the full
year ending 31 December 2011 show consolidated revenues of USD 4.38
million and EBITDA of USD 0.58 million.
Jeremy Ben-David, Waterlogic, Group CEO, commented:
"Taylor Made is our first US west coast acquisition and is an
important step to enhance our North American presence, providing a
solid platform for continued accretive growth in the region.
We are especially excited about the opportunity to introduce
Waterlogic's highly innovative Firewall UV water purification
technology and associated products into the Taylor Made customer
base. Taylor Made is a highly complementary business, with a strong
management team and we look forward to welcoming them into the
Waterlogic Group.
We continue to explore future acquisition opportunities and will
update shareholders in due course."
Casey Taylor, CEO Taylor Made & Regional VP Waterlogic USA,
commented:
"On behalf of the Taylor Made team, we are thrilled to be
joining the Waterlogic Group, which allows us to market the unique
Firewall UV technology to our existing and potential customers, and
provides us the opportunity to launch carbonated water coolers in
California.
I am delighted to be remaining as CEO of Taylor Made and look
forward to my additional responsibilities as Regional VP with
Waterlogic USA."
Enquiries:
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Executive Email: waterlogic@kreabgavinanderson.com
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
Madeleine Palmstierna
Website: www.waterlogic.com
Notes to editors:
Waterlogic Plc
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer
and 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's products and services are built on the simple vision
of a three stage approach to purity:
1. Filtration to remove unwanted contaminants, chlorine and other water-borne tastes and odours
2. 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 its
dispensers are certified by the Water Quality Association 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.
3. BioCote silver antimicrobial protection. Plastic surfaces
surrounding dispensing areas of Waterlogic units are infused with a
silver additive called BioCote, a natural anti-microbial that
inhibits the growth of microorganisms, giving yet another layer of
hygienic defence.
Founded in 1992, 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 around the world.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are the USA and Western Europe, in particular
Germany, France, Scandinavia and the UK. Of the 1.9 million new POU
and bottled water installations in the business-to-business market
in the USA and Europe between 2005 and 2011, approximately 73%
incorporated POU technology, of which approximately 27% were
Waterlogic products.
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.
For the financial year ended 31 December 2011, the Group
generated revenues and adjusted EBITDA (adjusted for share based
incentives expense, capital reorganisation related costs and
acquisition related costs) of USD 84.9 million and USD 13.4
million, respectively, and had approximately 565,000 machines
installed as at 31 December 2011.
As part of Waterlogic's on-going 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/
Taylor Made
Founded in 1998, Taylor Made Water Systems was built on a
commitment to provide better water, without hassles, to Northern
California. Since 1972, the Taylor Made name has been associated
with great service and great people. Barry Taylor brought these
principles from his original company, Taylor Made Office Systems,
when he founded Taylor Made Water Systems with his sons Casey
Taylor and Clint Taylor.
Today, Taylor Made Water Systems operates throughout Northern
California, providing Better Water to businesses, homes, and
industry. Taylor Made also offer a full line of gourmet coffee
solutions for business, from whole bean grinding cappuccino
machines to Keurig's single-cup solutions with Kcups from Green
Mountain, Tully's, Diedrichs, Gloria Jeans, Celestial Seasonings,
Coffee People, and more. Taylor Made roast their own beans (for
whole bean machines), because freshness is key to a quality cup of
coffee. For residential coffee, Taylor Made have a full line of
offerings through - www.justonecup.com which offers the Keurig line
of products and Kcups.
The pride and joy of the Taylor Family is it's Taylor Family
Foundation, which is "committed to preserving the wellness and
enhancing the quality of life for children in Northern California
with life-threatening illnesses, disabilities, and youth at-risk."
Over the last 17 years, the Foundation developed, built, and today
maintains Camp Arroyo, a specially built camp for children with
life threatening illnesses. To date, over 10,000 children have had
the time of their lives at Camp Arroyo. Equally significant,
everything has been, and continues to be, at no cost to the
camper's family which is often burdened with extraordinary medical
bills. For many children, a week at Camp Arroyo is the highlight of
their year - a place where they are free to be themselves among
peers with the same afflictions or issues, free from ridicule,
staring, or self-consciousness, often for the first times in their
life. To find out how you can help the Taylor Family Foundation,
please see the website at www.ttff.org.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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