Waterco Limited is a global manufacturer of water treatment equipment and pool equipment.
Waterco
) has solidified its position as an Australian-owned, large water company by acquiring Davey Water Products Limited (Davey), which is a subsidiary to GUD Holdings Limited. The deal is expected to close on August 31st, 2023 for a price of $64.9m.
Waterco’s combined 131 years of experience in the multibillion dollar global water industry – one of the world’s most important sectors – allows it to expand its market reach and provide growth opportunities for shareholders.
The acquisition is in line with Waterco’s strategic vision to become a global leader of the water technology sector, says S Oon Sinn Goh Waterco Founder, Executive Chairman and Chief Executive Officer. It positions the company to grow sustainably and allows it to seize emerging market opportunities.
Waterco customers in various sectors will benefit from the acquisition, which brings together complementary strengths.
Goh says that the acquisition of Aquatech will result in a greater share of the global water market across categories such as pool and spas, water transfer, and water treatment.
The geographic strengths of Europe, Africa, the United States and the Middle East can be leveraged to create growth opportunities.
He says that “Waterco’s extensive distribution in North America and Europe will further enhance Davey’s existing reach in Europe.” Both companies will be able to access each other’s customers as their products are complementary.
