Waterlogic acquires AquaPrix
Waterlogic, a global distributor of point-of-use drinking water purification and dispensing systems, has agreed to acquire the trading assets of AquaPrix, a vendor of innowave water dispensers based in Northern California, USA. AquaPrix has an existing installed base of over 3,400 water dispensers supplying and servicing blue chip corporations and homes located in the San Francisco bay area, including Silicon Valley. Following completion, the AquaPrix 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 AquaPrix for the full year ending 31 December 2011 show revenues of USD 1.87 million and adjusted EBITDA of USD 0.41 million (after adding back non-recurring payments made to officers).