5th Feb 2019 10:03
LONDON (Alliance News) - Water Intelligence PLC on Tuesday said it has bought a Canadian franchise, sold a US one, and provided financing to another in the US.
Water Intelligence shares were trading up 11% at 399.00 pence each on Tuesday.
The leak detention services provider bought a franchise in Ontario, Canada and sold its Youngstown, Ohio franchise to a current franchise owner who is also "a leader" within the American Leak Detection System.
Richard Johnson, the former owner of the Ontario franchise, will join the firm's corporate management to lead the Niagara region and open new locations in upstate New York such as Buffalo and Syracuse.
Furthermore, the firm has entered a deal with a franchise in Idaho to provide financial support in order to jump-start the franchise's expansion from leak detection to repairs and municipal.
"These transactions underscore the American Leak Detection and UK-based Water Intelligence International business lines are complementary and growth is accelerating," the company said.
Lastly, trials of a sewer diagnostic technology "have gone well" and commercialization of the product is on schedule.
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