Water Intelligence completes three transactions in North America

Writer, Stock Market Wire
Tuesday, February 5, 2019 - 14:43

Leak-detection and remediation group Water Intelligence said it had completed three corporate transactions, including the acquisition of a Niagara franchise in Canada.

The franchise achieved around $450k of sales during 2018 and would expand the company's presence into Canada and upstate New York.

Water Intelligence also announced the sale of a new franchise territory for Youngstown, Ohio to to a current franchise owner and said it would offer financial support to assist a franchise in Idaho.

'We are off to a fast start in 2019,' executive chairman Patrick DeSouza said.

'These transactions unlock significant shareholder value both from synergies and expansion into new offerings.'

'Water Intelligence is scaling operationally with multiple business lines and can execute such complementary transactions again and again going forward to reinforce sustainable growth - an objective that I have previously stated.'

At 2:43pm: (LON:WATR) Water Intelligence PLC share price was +37p at 397p

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