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Hydro International gobbles up Hydro-Logic

Mon, 29th Feb 2016 14:15

(ShareCast News) - Hydro International was in expansion mode on Monday, announcing it had entered into conditional agreements to acquire Hydro-Logic Ltd and the business of Hydro-Logic Services, collectively Hydro-Logic.The AIM-traded provider of environmentally sustainable water management solutions said Hydro-Logic was founded in 1985 by its current managing director, Rod Hawnt.Its products included instrumentation and information systems for water environment monitoring applications, including data logging, telemetry and software.Hydro-Logic Ltd was to be acquired to an initial nominal sum, plus the assumption of debt of £429,000, as well as an additional deferred consideration of 11.5% of sales incorporating the acquired intellectual property across the first three years.That additional consideration was capped at £2m, Hydro International's board said.The business of Hydro-Logic Services was to be acquired for an initial amount of £916,000, plus an additional deferred consideration calculated on the profitability of the business across the first three years, which was also capped at £2m.Both businesses generated £3.6m in revenues for the year ended 31 May 2015. The acquisitions were expected to complete on 8 March, and were to be funded from existing cash and additional debt facilities."This acquisition is an important strategic step in extending our core capabilities. Hydro-Logic's technology, expertise and experience will broaden and deepen many aspects of our business," said Hydro International chief executive Michael Jennings."The new products and services that we can offer will give unprecedented insight into the design, installation and operation of water management products, saving money for customers, reducing risk and helping them to protect the environment," he added.Rod Hawnt and Colin Fenn, the managing director of Hydro-Logic Services, would be staying with the business post-acquisition, it was confirmed.
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22 May 2014 12:59

Hydro International Says Outlook Remains Unchanged

LONDON (Alliance News) -a Hydro International PLC said at its annual general meeting Thursday that trading across its operations are broadly as expected and its outlook remains unchanged. The environmentally sustainable water treatment technology company said it continues to focus on making

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10 Mar 2014 14:45

DIRECTOR DEALINGS: Hydro International Chairman Buys Shares

LONDON (Alliance News) - Hydro International PLC Monday Monday said Chairman Roger Lockwood bought 3,000 shares at a price of 119 pence per share. Following this transaction, Lockwood now holds 3,000 shares, which represents less than a 1% stake in the environmentally sustainable and

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4 Mar 2014 12:38

Hydro International Pretax Profit Drops On Revenues, Expenses

LONDON (Alliance News) - Hydro International PLC Tuesday said its pretax profit fell significantly in its full-year 2013 as revenue figures and expenses hit the company. The environmentally sustainable water treatment technology company said its pretax profit fell 39% to GBP1.4 million from

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4 Nov 2013 12:55

Hydro International Announces New Global Leadership Team

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3 Sep 2013 10:22

Hydro International Profit Rises As Business Shifts Outside UK

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3 Sep 2013 10:12

Hydro International maintains poor guidance for 2013

Shareholders of Hydro International were disappointed on Tuesday after the water products group said it continued to expect both revenue and profit for the 2013 full year to be 'materially lower' than levels seen last year. The prediction was as a result of the conclusion of three major Zickert Sc

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14 May 2013 10:57

Hydro International names Michael Jennings as new CEO

AIM-listed water treatment provider Hydro International has appointed Michael Jennings to the post of Chief Executive Officer, with his role effective from July 22nd. Jennings, who is 43 years old, previously held leadership positions with AlliedSignal, Ingersoll-Rand, and Flextronics. From 2004

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15 Jan 2013 10:40

Hydro International announces retirement of CEO

The Chief Executive Officer (CEO) and Director of Hydro International is stepping down, the water treatment company announced Tuesday. Steve Hides will retire from the positions following the appointment of a successor and a hand-over period. However, he will remain with the company as he takes o

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28 Sep 2012 07:29

London pre-open: Footsie to renew assault on 5800

City sources predict the FTSE 100 will open 28 points up from yesterday's close of 5,779 as markets give a generally positive response to Spain's austerity budget. Spain has pushed through €40bn of new austerity measures, despite violent protests across the country. Premier Mariano Rajoy has put a

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4 Sep 2012 10:15

Hydro profits hit by low margin sales

Water treatment firm Hydro International saw profits drop as margins were squeezed and it faced tough comparators from the previous year. Pre-tax profits came in at £283,000, down from £951,000 in the first half of 2011. The firm said a shift of sales mix from proprietary products towards lower ma

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24 May 2012 13:28

Small caps round-up: Autologic, Netcall, Animalcare ...

Vehicle services and distribution firm Autologic Holdings is in talks with logistics giant Stobart Group regarding a possible cash offer for Autologic. Netcall, a customer engagement software provider, has continued to trade strongly in the second half of the year, seeing growth across all markets

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27 Mar 2012 11:41

Small caps round-up: Hydro, Pursuit, Mission Marketing...

Lo-Q, a provider of virtual queuing systems, has reported that its operational momentum has continued in to the first half of the current year. The company has earned considerable new business, particularly for its waterpark product, Q-band. Exisiting business has also performed well, with the compa

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6 Sep 2011 09:35

Hydro buoyant even as Middle East orders dry up

The strong order book of water treatment firm Hydro International gives the board confidence of a favourable full-year performance, despite the effective suspension of opportunities in the Middle East The company saw pre-tax profits jump 53.9% in the six months to the end of June to £0.95m from £0.

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26 May 2011 15:00

Hydro weathers the storm

Water treatment firm, Hydro International, said it was on target to meet forecasts amid an encouraging trading environment. The firm announced its American arm, US Wastewater, had been awarded a $2.4m grit removal contract at the Point Loma Wastewater Treatment Plant in San Diego, California. Hydr

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8 Mar 2011 17:04

Hydro beats expectations

AIM-quoted Hydro International reported 2010 figures well above expectations. The stormwater and wastewater equipment supplier's revenues edged up by 3% to £28.2m, while pre-tax profit was one-third higher at £2.38m. Excluding amortisation and exceptionals, profit improved from £1.93m to £2.64m. N

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