Global water treatment and pool equipment manufacturer Waterco Limited (Waterco) has cemented its position as a large Australian-owned and operated entity in the water industry by acquiring Davey Water Products (Davey), a subsidiary of GUD Holdings Limited (GUD). The transaction is expected to be completed on August 31, 2023, with a sale price of $64.9 million.
With a combined 131-year history in the multi-billion-dollar global water industry — one of the most critical sectors in the world — the acquisition enables Waterco to expand its reach while providing increased market presence and growth opportunities for shareholders.
“The acquisition aligns with Waterco's long-term strategic vision of becoming a global leader in the water technology industry,” says Soon Sinn Goh, Waterco founder, executive chairman and chief executive officer. “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.
“One outcome of the acquisition will be increased share of global water markets across pool and spa, water transfer and water treatment categories,” Goh explains.
Growth opportunities include leveraging geographical strengths across developing markets in Europe, the United States, Africa and the Middle East.
“Waterco’s extensive distribution into North America and the European Union will further enhance Davey’s pre-existing reach in Europe,” he says. “Another benefit is that both companies will have access to each other’s customer bases as products are complementary.”