WTL Waterlogic

TIDMWTL

RNS Number : 4910H

Waterlogic PLC

20 June 2013

 
 Date:              20 June 2013 
 On behalf of:      Waterlogic Plc ("Waterlogic", the "Company" 
                     or the "Group") 
 Embargoed until:   For immediate release 
 
 

Waterlogic Plc

Completion of acquisition of Cool Clear Water Group, Australia

Waterlogic Plc (AIM: WTL.L), a leading designer, manufacturer, global distributor and operator of point-of-use ("POU") drinking water purification and dispensing systems, is pleased to announce that further to the Company's announcement of 24 May 2013, the acquisition of Cool Clear Water Group Ltd ("CCW") completed today.

Peter Cohen, Waterlogic, CEO Commercial Division, commented:

"The completion of this landmark acquisition is a significant development for the Group. We very much look forward to expanding into such a major new territory and driving further growth on the platform that this acquisition has provided in Australia."

Enquiries:

 
 Waterlogic Plc                             Via Redleaf Polhill 
  Jeremy Ben-David, Group Chief Executive 
  Officer 
  Peter Cohen, CEO Waterlogic Commercial 
 Liberum Capital (Nominated Adviser         Tel: 0203 100 2000 
  and Broker) 
  Steve Pearce 
  Richard Bootle 
 Redleaf Polhill                            Tel: 0207 382 4730 
  Rebecca Sanders Hewett                     waterlogic@redleafpr.com 
  Emma Kane 
  David Ison 
 

Notes to editors:

Waterlogic Plc

Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer, distributor and operator 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 over 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.

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 2012, the Group generated revenues and adjusted EBITDA (adjusted for share based incentives expense, capital reorganisation related costs and acquisition related costs) of USD 101.0 million and USD 14.7 million, respectively, and had approximately 640,000 machines installed as at 31 December 2012.

As part of Waterlogic's on-going commitment to providing safe water, the Group has pledged to donate USD 225,000 over the three years from 2012 to 2014 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

Website: www.waterlogic.com

This information is provided by RNS

The company news service from the London Stock Exchange

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