Waterlogic Plc 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."