Waterco announces acquisition of Davey Water Products

Global water treatment and pool equipment manufacturer Waterco Limited has expanded its position as the largest Australian-owned and operated entity in the water industry by acquiring Davey Water Products, a subsidiary of GUD Holdings Limited.

The acquisition is expected to be completed on 31st August, with a sale price of $64.9 million.

With a combined 131-year history in the water industry, the acquisition is expected to enable Waterco to further expand its reach while providing increased market presence and growth opportunities for shareholders.

Commenting on the acquisition, Waterco founder, Executive Chairman and Chief Executive, Soon Sinn stated “the acquisition aligns with Waterco's long-term strategic vision of becoming a global leader in the water technology industry.

“It positions the company for sustainable growth and enables it to take advantage of emerging opportunities in the market.”

The acquisition brings together complementary strengths and capabilities that will benefit Waterco’s customers across various sectors with growth opportunities identified as including leveraging geographical strengths across developing markets in Europe, USA, Africa, and the Middle East.

Goh noted “one outcome of the acquisition will be increased share of global water markets across pool and spa, water transfer and water treatment categories.

“Waterco’s extensive distribution into North America and the European Union will further enhance Davey’s pre-existing reach in Europe.

“Another benefit is that both companies will have access to each other’s customer bases as products are complementary.”

Goh went on to state “overall, the acquisition of Davey Water Products offers a range of strategic benefits that can help Waterco consolidate its position as a market leader and create value for its stakeholders, including employees, customers, and shareholders.

Waterco, established in 1981 with a single pool pump store in Sydney has since become a global brand recognised for designing and manufacturing filtration and sanitisation innovations for the swimming pool, spa, aquaculture, and water purification sectors.

In 1983, Waterco founded Swimart, a successful swimming pool and spa retail franchise network - one of Australasia’s biggest and oldest - which boasts 75 stores and a fleet of over 220 mobile service vans across Australia and New Zealand.

The company was listed on the Australian Securities Exchange in 1989 and has since evolved into a technological and manufacturing powerhouse that makes products more energy and water efficient as well as being easier to maintain.

Click here to contact Waterco through their entry in the Australasian Leisure Management Supplier Directory.

Click here to contact Davey Pool Products through their entry in the Australasian Leisure Management Supplier Directory.

Image: The Davey BT20-30 Booster Pump.