Acquisition of 100% of shares in Triogen Holdings Limited,
a SUEZ Water Technologies & Solutions entity
Acquisition of a global specialist in water treatment systems using ozone, UV
and advanced oxidation technologies
A growth driver for BIO-UV Group's historic activities
BIO-UV Group (ISIN code: FR0013345493/ Ticker: ALTUV), a specialist in UV water
treatment systems, is today announcing the acquisition of 100% of Triogen
Holdings Limited and its subsidiary Suez Purification and Disinfection Systems
Ltd (together known as 'Triogen'), a global specialist in the design and
manufacturing of water treatment systems using ozone, UV and AOP (Advanced
Oxidation Process) technologies.
The acquisition, with a price of £6,290,000, was partly financed through the
company's own funds, with the remainder financed by debt (bank loan, financing
from Bpifrance Financement and a bond issue).
Triogen: EUR8m in revenues and EBITDA of 10% of revenues
Triogen has designed, manufactured and sold water treatment solutions using
ozone, ultraviolet (UV) and advanced oxidation processes (AOP) for over 30
years. Its solutions are used in the leisure industry, aquariums and
aquaculture. Triogen is based in Scotland and employs 35 people.
In 2018, it generated revenues of EUR8m (30% in UV and 70% in ozone) and its
EBITDA amounted to 10% of revenues.
Launch of a strategic partnership and sales agreement with SUEZ WTS
The acquisition also marks a decisive step forward with the launch of a
strategic partnership and sales agreement between BIO-UV Group and a company
that is part of the SUEZ WTS division.
Alongside the acquisition of Triogen, sales and licencing agreements were
signed. Under the sales agreement entered into for an initial term of four
years, the company part of the SUEZ WTS division has undertaken to purchase a
minimum amount of licenced products manufactured by the new entity from BIO-UV
Group, for a period of three years.
Major synergies with the Group's historic activities
Triogen's activities offer a number of synergies with BIO-UV Group's business,
- Mutual sales growth with access to new geographical areas, in particular in
Asia and Europe;
- Complementary products and certifications, which will boost BIO-UV's growth
potential in its historic activities. The acquisition will bolster BIO-UV
Group's portfolio with the addition of ozone solutions and advanced oxidation
process (AOP) technology, in which Triogen has built an international
reputation. At the same time, Triogen will benefit from BIO-UV's leadership
in UV technology to accelerate its growth in markets with strong demand.
Commenting on the deal, Benoit Gillmann, Chairman and Chief Executive Officer
of BIO-UV Group, said: "We are delighted and proud to be announcing this
strategic acquisition, which marks a major step forward in our growth plan, in
line with our commitments. From the outset, our plan was based on balanced
growth between our historic activities with their many applications and ballast
water treatment. This acquisition fits perfectly with our commitment to
delivering growth and ensuring a balance between these two core activities,
which represent our Group's strength. The deal made with a global leader in
water treatment also provides for a lasting strategic partnership with SUEZ WTS
operational teams. The addition of Triogen's ozone and advanced oxidation
technologies to our portfolio will also provide us with a major competitive
advantage. These technologies fully complement our traditional expertise in UV
treatment, and will strengthen our positions on our historic markets while
placing us in a strong position to seize new business opportunities. We are
convinced that the integration of Triogen will be a success and that we will
develop considerable synergies with the support of SUEZ WTS. This acquisition
also bolsters our confidence that we will achieve the goal set on our IPO of
reaching EUR40m in revenues by 2022."
Next press release: 23 September 2019, first-half 2019 results
About BIO-UV GROUP
Created in 2000, BIO-UV Group designs, manufactures and markets innovative
ultraviolet water treatment systems. The range of equipment developed by the
Group is aimed at several markets:
- The recreative market, on which BIO-UV Group is no. 1 in France and in
Europe for UV water treatment in residential swimming pools, and for the
commercial and semi commercial community pool dechloramination market;
- The municipal and industrial markets, on which specific ranges have been
developed for applications such as: purification, effluent treatment,
wastewater reuse, process waters, aquaculture, etc.;
- The ballast water treatment market, which has benefited since 2017 from a
new international regulation requiring all ships to have equipment to treat
their ballast water.
BIO-UV Group has been granted the "Innovative Company" label by Bpifrance and
is eligible for the French "PEA-PME" investment scheme.