Waterlogic agrees acquisition of Cool Clear Water

WATERLOGIC, the Aim-quoted maker of water dispensers, is poised to break into the Australian market after agreeing the A$60 million (£38.4m) acquisition of Cool Clear Water (CCW).

The firm said CCW, which has more than 11,000 customers, is the only Australian water cooler company with a presence in all six states and delivered underlying pre-tax profits of A$9.3m on sales of A$16.9m last year.

Peter Cohen, chief executive of Waterlogic’s commercial division, said: “CCW has already built up a significant market share and we are confident that once the deal completes, through the additional scale and expertise of the Waterlogic team, we will be able to grow this further through both organic growth and acquisition.”

Waterlogic floated on Aim in July 2011 and earlier this year boosted its presence north of the Border with the takeover of Perth-based Aqua Care Scotland for an undisclosed sum.