Hobro, Denmark-headquartered Provital Solutions was founded in 2009 to sell filtration solutions based exclusively on LiqTech’s ceramic membranes for the pool and spa industry. In addition to designing and supplying large SiC liquid membrane systems for pools and aquaculture operators, Provital Solutions has also developed a UV hybrid disinfection technology.
Provital Solutions has established a sales network covering strategic regions including Scandinavia, North America and Australia, and had sales of US$2.5 million in 2013.
LiqTech expects to leverage Provital Solutions' systems application capabilities, allowing its customers to accelerate the testing and validation cycle of its SiC solutions.
LiqTech will acquire 100% of Provital Solutions for LiqTech shares with an equivalent value of DKK33.6 million (US$6.1 million) and cash equalling DKK12.6 million (US$2.3 million). The transaction is expected to be completed in July 2014.
LiqTech chairman Aldo Petersen said: “Our acquisition of Provital Solutions is an important strategic and business decision. We have been very impressed with the strong growth of the company based on the significant value proposition that Provital offers to its customers, and we look forward to captializing on the complementary strengths that we expect will accelerate sales for the combined company in the future.”
