Business
Acquisition of Indianapolis Franchise
Acquisition of Indianapolis Franchise.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \nRNS Number : 3348H Water Intelligence PLC 07 June 2017 \n\n \n \nAcquisition of Indianapolis Franchise\n\n \nWater Intelligence plc (the \"Company\") is pleased to announce the acquisition of its Indianapolis, Indiana franchise. The current franchise owner will be staying with the business to grow it faster with corporate support. Indianapolis strengthens corporate presence in the midwest of the United States along with prior acquisitions of Detroit (2015) and Cincinnati (2016). In the year ended 31 December 2016, the Indianapolis franchise generated revenues of approximately $480,000.\n \nExecutive Chairman, Patrick DeSouza commented: \n \n\"We are excited by the Indianapolis opportunity. The business is a solid performer now but can grow much faster with additional working capital. Continuity with our franchise owner strengthens our management team. Strategically, Indianapolis, together with corporate operations in Detroit and Cincinnati, adds critical mass for helping our franchisees grow throughout the midwest United States. Moreover, Indianapolis's proximity to Chicago enables us to plan for efficiently executing a significant growth opportunity.\"\n \nCertain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.\n \n \nEnquiries: \n\n\n\n\nWater Intelligence plc \nPatrick DeSouza, Executive Chairman\n \n\n\nTel: +1 203 654 5426 \n \n\n\n\n\nfinnCap Ltd\nAdrian Hargrave / Giles Rolls, corporate finance\nStephen Norcross, corporate broking\n \n\n\nTel: +44 (0) 207 220 0500\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQEQLFBDQFEBBF\n ","length":3771,"tagName":"div"}]