Water Intelligence PLC Reacquisition of Central Texas Franchise (2396L)
12 Mai 2022 - 08:02AM
UK Regulatory
TIDMWATR
RNS Number : 2396L
Water Intelligence PLC
12 May 2022
Water Intelligence plc
("Water Intelligence" or the "Group")
Reacquisition of Central Texas Franchise
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or
"Group"), a leading multinational provider of precision,
minimally-invasive leak detection and remediation solutions for
both potable and non-potable water is pleased to advance its 2022
growth plan with the reacquisition of its franchise in central
Texas ("Acquisition") within the Group's American Leak Detection
("ALD") subsidiary. The Acquisition builds upon the acquisition of
its large Fort Worth, Texas franchise in January and the greenfield
launch of a new corporate location in Wichita Falls in March.
Growth Strategy. The central Texas franchise includes the cities
of Abilene, Lubbock and Midland which are west of Fort Worth and
Wichita Falls. Especially with the implementation of Salesforce and
its related applications in the Fort Worth office, which makes
scheduling and dispatch more efficient, the Group expects to
further develop Fort Worth/Dallas as a regional hub and achieve
greater scalability by integrating operations from Fort Worth west
to Midland. The Group is executing this regional hub model across
the United States with its more than 150 corporate and franchise
locations.
Terms. The purchase price of $0.75 million in cash includes all
assets required to conduct operations, including trucks and
equipment. The purchase price is based on the franchise's 2021
Statement of Income of $0.65 million in revenue and $0.21 million
in profit before tax. The transaction is accretive to Water
Intelligence shareholders.
Executive Chairman, Dr. Patrick DeSouza commented: "I am very
pleased with today's reacquisition which further advances our 2022
growth plan with confidence. Given strong market demand for our
water and waste water solutions, we look to continue accelerating
our growth strategy. With our on-going automation of business
operations, we see opportunities for significant scalability
throughout Texas, which itself is growing rapidly, and across the
United States"
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
Enquiries :
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
RBC Capital Markets - Joint Broker Tel: +44 (0)20 7653 4000
Jill Li
Daniel Saveski
WH Ireland Limited - NOMAD & Joint Tel: +44 (0)20 7220 1666
Broker
Chris Hardie
Ben Good
Tel: +44 (0)20 3903 7715
Dowgate Capital Ltd - Joint Broker
Stephen Norcross
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQEALSAFLSAEEA
(END) Dow Jones Newswires
May 12, 2022 02:02 ET (06:02 GMT)
Water Intelligence (LSE:WATR)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Water Intelligence (LSE:WATR)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024