6th May 2015 08:58
LONDON (Alliance News) - Environmental services and technology company Water Intelligence PLC on Wednesday said it has completed the acquisition of a franchise covering the Detroit and eastern Michigan area in the US.
Water Intelligence, which did not provide any financial details on the transaction, said the franchise will be run as a corporate location with its 2015 earnings and revenue consolidated into Water Intelligence's results.
The franchise will be combined with the new location the company is set to launch in Chicago in the second half of 2015 in order to form a mid-west US regional hub.
"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," said Water Intelligence Executive Chairman Patrick DeSouza.
Shares in Water Intelligence were untraded Wednesday, having last traded at 30.06 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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