Acquisition deal merges water treatment tech firms
BIO-UV Group, a specialist in UV water treatment systems, has acquired 100 percent of Triogen Holdings Limited and its subsidiary, Suez Purification and Disinfection Systems Ltd., a global specialist in the design and manufacturing of water treatment systems using ozone, UV and advanced oxidation process (AOP) technologies.
The acquisition, worth £6,290,000 (US$7.8 million), was partly financed through the company’s own funds, with the remainder financed by debt (bank loan, financing from Bpifrance Financement and a bond issue).
Triogen has designed, manufactured and sold water treatment solutions using ozone, ultraviolet (UV) and AOP for over 30 years. Its solutions are used in the leisure industry, aquariums and aquaculture. Triogen is based in Scotland and employs 35 people.
The acquisition also marks a decisive step forward with the launch of a strategic partnership and sales agreement between BIO-UV Group and a company that is part of the SUEZ WTS division.
Alongside the acquisition of Triogen, sales and licencing agreements were signed. Under the sales agreement entered into for an initial term of four years, the company part of the SUEZ WTS division has undertaken to purchase a minimum amount of licensed products manufactured by the new entity from BIO-UV Group, for a period of three years.
The acquisition will bolster BIO-UV Group’s portfolio with the addition of ozone solutions and AOP technology, in which Triogen has built an international reputation. At the same time, Triogen will benefit from BIO-UV’s leadership in UV technology to accelerate its growth in markets with strong demand.
“We are delighted and proud to be announcing this strategic acquisition, which marks a major step forward in our growth plan, in line with our commitments,” said Benoit Gillmann, chairman and CEO of BIO-UV Group. “The deal made with a global leader in water treatment also provides for a lasting strategic partnership with SUEZ WTS operational teams. The addition of Triogen’s ozone and advanced oxidation technologies to our portfolio will also provide us with a major competitive advantage. These technologies fully complement our traditional expertise in UV treatment, and will strengthen our positions on our historic markets while placing us in a strong position to seize new business opportunities.
The acquisition also strengthens the company’s confidence to achieve the goal set in its IPO of reaching €40 million (US$43.9 million) in revenues by 2022.