Water Intelligence poised to expand into EU with Irish acquisition

(Alliance News) - Water Intelligence PLC on Tuesday said it will buy a company aimed at expanding into the Irish market.

The London-based provider of water infrastructure technology solutions said it will buy Feakle Gas & Plumbing Ltd, which operates in Ireland and offers a mix of service and construction plumbing.

Water Intelligence said the EUR2.3 million acquisition is aimed at expanding its multinational operating footprint, as it currently operates across the US, the UK, Australia and Canada.

"Market demand in Ireland for water and wastewater solutions is strong as various EU directives are being implemented as noted above. From a strong base in Ireland, the group is now better positioned to expand its operations in the EU," Water Intelligence said.

Feakle Gas had a revenue of EUR3.7 million in 2023 and an adjusted operating profit of EUR550,000, Water Intelligence said.

Water Intelligence shares rose 3.5% to 440.00 pence each around midday on Tuesday in London.

By Tom Budszus, Alliance News slot editor

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