Limerick-based agri-technology company, BHSL, has acquired Meath company, Hydro International, in a deal worth over €5m.
BHSL is eyeing further acquisitions, as part of an aggressive expansion plan.
This is the first step in BHSL’s strategy to expand the range of applications for its patented technology, which converts poultry manure into fuel for on-farm energy-generation.
Hydro is a leading wastewater and effluent-treatment company and BHSL’s managing director, Declan O’Connor, described it as being “an excellent fit” for his company.
“The acquisition supports our strategy to expand into a broader environmental solutions business, focused on extracting value from waste products.
“Hydro provides a strong platform for targeting the industrial and municipal waste sectors, given their impressive, existing customer base [which includes the likes of Coca-Cola, Kerry Group, ABP Foods, Smurfit Kappa and Irish Water],” he said.
BHSL has raised €12m in two separate equity drives in the last nine months, leaving it well-placed for further growth.
The guts of that total funding have come via €7m in new equity, a round which has just closed.
“Our very well-supported fundraising process provides us with the financial resources to underpin our growth strategy, including through further acquisitions,” said Mr O’Connor.
For its part, over the past 23 years, Hydro International has become a leader in product innovation within the water and wastewater industry.
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