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Waterlogic Plc (AIM: WLT), a leading supplier of mains-fed point-of-use (“POU”) drinking water purification and dispensing systems, announces that trading in its shares commenced Monday on AIM.
The Company has raised c.£41m by placing of 33,427,588 ordinary shares at an issue price of £1.45 per share. The market capitalisation at the Placing Price is c.£112.5m.
Waterlogic will use the proceeds primarily to increase production capacity, fund further acquisitions and to commercialise its patent-pending Firewall UV technology (the only technology in the water POU dispenser market certified as able to guarantee 99.9999% pure water 100% of the time).
Waterlogic was one of the first companies to introduce POU systems to Europe and has been a leader in the POU market in terms of product design and quality, the application of new technologies and in sales and service. Waterlogic’s drinking water purification and dispensing systems are designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces.
For the financial year ended 31 December 2010, the Group generated revenues and Adjusted EBITDA of US$68.3 million and US$11.4 million, respectively, and had approximately 500,000 machines installed as at 31 December 2010.
Waterlogic’s success is built on the following strengths:
Brand Recognition
- Pioneer of POU to Europe and strong reputation as a market leader
Products
- state-of-the-art Waterlogic owned manufacturing facility
- Innovative product range
- Advanced technology including Firewall
- Stringent hygiene parameters and industry certifications
- Focus on product reliability and performance
- Committed to research and development investment
Distribution
- Extensive distribution network and exceptional service
- Vertical integration in key markets
Management
- Experienced international management team
Jeremy Ben-David, Waterlogic, Group CEO “Our IPO signifies the start of the next major phase of development of Waterlogic, providing us with the financial flexibility to capitalise further and thrive upon the attractive long-term growth opportunities throughout our business and to achieving further sustainable profitable growth.
The management team look forward to further strengthening our leadership position through continued organic and acquisition-led growth, as well as the expansion of our existing technologies, into new markets.”
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