REG - Water Intelligence - Acquisition of Detroit Franchise <Origin Href="QuoteRef">WATRI.L</Origin>

Water IntelligenceAnnouncement

15/07/2015 16:11

RNS Number : 2670M
Water Intelligence PLC
06 May 2015
Water Intelligence plc
("Water Intelligence")
Acquisition of Detroit / Eastern Michigan Franchisee
Mid-West regional hub
The Board of Water Intelligence is pleased to announce the acquisition of a franchise with territory covering Detroit / Eastern Michigan. The franchise will be run as a corporate location with 2015 revenue and earnings consolidated directly into Water Intelligence. The acquisition comes as the franchisee retires having previously built up a successful business in that region.
The Board considers the franchise sufficiently well developed to be worthy of acquisition and will be joined with a new corporate location to be launched in Chicago during the latter half of 2015 to form a Mid-west U.S. regional hub from which further business in the region can be developed.
Executive Chairman Patrick DeSouza added:
"Coupled with our acquisitions of franchises in Miami and New York earlier this year, we are building critical mass and fueling growth at the Water Intelligence level via corporate store sales while our overall American Leak Detection franchise business continues to grow creating future opportunities for earnings accretive acquisitions."
Enquiries: 
Water Intelligence plc  Patrick DeSouza (Executive Chairman)  Tel: +1 203 654 5426 
WH Ireland Limited  Adrian Hadden / James Bavister   Tel: 020 7220 1666

This information is provided by RNS
The company news service from the London Stock Exchange
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