Genesys International sold to H2O Innovation
In a transaction managed by BCMS, Canadian water treatment specialist H2O Innovation has acquired Genesys International to strengthen its speciality chemicals line of products and broaden its range of application. The total consideration for the transaction was reported as £16.95m.
Established in 2001, Genesys specialises in the development and manufacturing of speciality chemicals dedicated to water treatment. The company provides chemicals and services to the membrane industry in almost 70 countries around the world. Genesys offers, through a large distribution network, a portfolio of over 35 diversified products with unique formulation – all manufactured at its facility in Middlewich, Cheshire, UK. In addition, Genesys also offers complete laboratory services such as feed water and pre-treatment tests, membrane autopsies and cleaning program design.
“BCMS’ competitive process ensured that we were speaking to a select number of highly motivated buyers” – Ursula Annunziata, Genesys
President and Co-founder of Genesys, Ted Darton said: “Through our innovative product line and first-class service, Genesys has become a leading name in the membrane market. All our branded formulations have been developed in-house and are produced at our UK factory in Cheshire. Although Genesys is highly profitable and has grown strongly over the years, we realise that the next stage in growth can only be achieved in combination with a larger organisation.”
Director and Co-founder of Genesys, Ursula Annunziata said: “While the transaction had more than its fair share of challenges with the perseverance and expert guidance from BCMS and Mills and Reeve we managed to overcome all these challenges successfully. From the outset, we were determined to sell our business to a Buyer which we believed represented the ‘right home’. BCMS’ competitive process ensured that we were speaking to a select number of highly motivated buyers and critically gave us choice. Whilst there was a significant level of interest in our business, we chose H2O Innovation as it became apparent, they were the perfect partner and ultimately represented the right home for our business and more importantly our employees.
“H20 will maintain the family feel that Genesys has developed by looking after its staff and distributors. As there are significant areas of synergy for both companies, we fully endorse the acquisition knowing it will be highly beneficial to all those involved.”
Quebec headquartered, H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users.
BCMS Associate Director Parik Bhandiwad said: “We are very pleased to have helped Genesys find a new home with such a prestigious global player. We are confident these two businesses will work very well together and achieve the goals they have both set out to achieve. We wish them all the very best in the future.”