Brief: H2O Innovation to buy Utility Partners LLC for $17 mln

H2O Innovation

13/07/2016 16:13

July 13 (Reuters) - H2o Innovation Inc  
    * H2o innovation enters us operation and maintenance market 
with the acquisition of utility partners and concurrent private 
placement of $20 m 
    * Will acquire utility partners, llc for purchase price is 
us$17.0 million 
    * Announces that it has entered into a binding agreement 
pursuant to which h2o innovation will acquire utility partners, 
llc 
    * H2o innovation inc says expects acquisition to be 
accretive to earnings and cash flow from day one 
    * H2o innovation inc says h2o innovation intends to finance 
acquisition with an equity financing 
    * H2o innovation inc says equity financing, by way of a 
bought deal private placement, for an amount of approximately 
$18.4 million 
    * Will complete non-brokered private placement with insiders 
in amount of $1.6 million,additional $10 million long-term 
secured credit facility 
 
Source text for Eikon:  ID:nCCN1rhmwH  
 
 (Bengaluru Newsroom; +1 646 223 8780)