Sdiptech AB (publ) acquires Water Treatment Products Limited in the UK
Press release
18 February 2019, 18:00
Sdiptech AB (publ) acquires Water Treatment Products Limited in the UK
As of today, Sdiptech has acquired all shares in Water Treatment Products Limited and its holding company Water Treatment Products Holdings Limited.
Water Treatment Products is a leading formulator and manufacturer of water treatment chemical products in the UK. The current trading is at net sales of approximately GBP 9.4 million and a pre-tax operating income of approximately GBP 2.5 million.
Jakob Holm, CEO Sdiptech, comments:
"Water Treatment Products Ltd has a strong position on the UK water treatment chemicals market, serving a large number of water treatment service providers who operate across a variety of end user market segments. They have established this position by combining high quality products with comprehensive technical advice and support to their customers. The market for water treatment is showing steady growth and we expect this to continue as water scarcity will become an increasing challenge in society. Water Treatment Products Ltd will be a great addition to Sdiptech’s offering within our business area Water & Energy.
We welcome founder and Managing Director, Tim Carter and his team to the Sdiptech Group and look forward to continuing to grow the company together with them.”
At day of transaction, the company is valued at GBP 15.9 million, of which GBP 10.3 million is paid at closing. The final purchase consideration, which is regulated at the end of an earn-out period, will be between GBP 10.3 and 23.1 million, depending on earnings development during the earn-out period. A final purchase price higher than the current value of GBP 15.9 million requires higher earnings levels than the current level.
For additional information, please contact:
Jakob Holm, VD, 1,
Bengt Lejdström, CFO, 0,
Sdiptech's common share of series B share is traded under the short name SDIP B with ISIN code SE0003756758. Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348. Sdiptech AB's Certified Adviser at Nasdaq First North Stockholm is Erik Penser Bank, , . Further information is available on the company's website:
Sdiptech AB is a technology group with a primary focus on infrastructure segments critical to well-functioning societies and to welfare, e.g. water & sanitation, power & energy, transportation, energy efficiency and air climate. As part of our offering in urban areas, we also provide niched technical services for buildings and real-estate such as renovation of elevators and roofs. The company has approximately SEK 1,500 million in sales and is based in Stockholm.
Sdiptech AB (publ) is required to disclose this information pursuant to EU Market Use Regulation 596/2014.The company is based in Stockholm.The information was provided by the above contact persons for publication 18 February 2019 at 18:00 CET.
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