TIDMWTL
RNS Number : 1906R
Waterlogic PLC
15 November 2012
15 November 2012
Waterlogic Plc
("Waterlogic" or the "Company")
Acquisition of AquaPerfect LLC
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 trading assets of AquaPerfect LLC
("AquaPerfect"), a highly-regarded vendor of Waterlogic water
dispensers and Keurig coffee machines based in Northern California,
USA.
AquaPerfect has an existing installed base of over 2,300 water
dispensers and coffee machines supplying and servicing offices and
businesses in the Sacramento area. Following completion, the
AquaPerfect business will become part of Taylor Made Water Systems
Inc., a subsidiary of Waterlogic USA, the Company's US
division.
The unaudited financial statements of AquaPerfect for the full
year ending 31 December 2011 show revenues of USD 1.26 million and
adjusted EBITDA of USD 0.23 million (after adding back
non-recurring payments made to officers).
Peter Cohen, Chief Executive, Waterlogic Commercial,
commented:
"AquaPerfect is our third US west coast acquisition further
enhancing our North American presence.
We see big opportunities through the introduction of
Waterlogic's highly innovative Firewall UV water purification
technology and associated products into the AquaPerfect customer
base. AquaPerfect represents a great fit, having sold the Company's
products for over 14 years and we look forward to welcoming it into
the Waterlogic Group.
We continue to explore future growth and acquisition
opportunities and developing further hubs in the US. We look
forward to updating shareholders in due course."
Casey Taylor, CEO Taylor Made & Regional VP Waterlogic USA,
commented:
"We are delighted to have made our second bolt-on acquisition
since integrating AquaPrix into our US west coast hub.The
combination of three operations in Northern California will enable
us to provide an enhanced service in this area to corporations
across the spectrum of the industrial, commercial, hotel and
restaurant, public, healthcare and education sectors. This brings
the existing installed base to over 10,500 water dispensers and
coffee machines at our US west coast hub."
Enquiries:
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Executive Email: waterlogic@kreabgavinanderson.com
Officer
Peter Cohen, CEO Waterlogic Commercial
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 52 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.
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 595,000 machines
installed as at 30 June 2012.
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.com
AquaPerfect LLC
Founded in 1998 and located in Sacramento, AquaPerfect supplies
Waterlogic mains-fed water coolers and water treatment systems and
Keurig coffee machines throughout the Sacramento Area and the
Valley.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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