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Groupe Laperriere & Verreault acquires water treatment assets in England and U.S

March 21, 2005

MONTREAL (CP) - Groupe Laperriere & Verreault Inc. has struck a deal to acquire water treatment assets in England and the United States.

The Montreal company said Monday its water treatment division had signed an agreement in principle to acquire assets of Jones & Attwood Ltd., a company located in the Birmingham area of England as well as its wholly owned U.S. subsidiary based in Illinois.

Financial terms of the deal, which is slated to close next month, were not revealed.

The Jones & Attwood water treatment division designs, manufactures and installs liquid-solid waste filtration, separation and processing equipment for municipalities and industrial customers.

The American subsidiary operates a sales and service center for the U.S. market.

The overall business generated sales of about $15 million, more than two thirds in Europe and the rest in the United States and Asia.

Laurent Verreault, Groupe Laperrier's president and chief executive, said the acquisition meets the company's strategic objective of expanding in the high-potential water treatment industry in Europe.

"This is a first step in that direction as it gives us a larger team to develop the European water treatment market," he said. "This transaction also meets our primary acquisition criteria, which are to integrate businesses with know-how, proven technologies, recognized trademarks and a large installed equipment base.

"What's more, this acquisition is being made at an interesting price, considering comparable transactions in this sector."

Groupe Laperriere (TSX:GLV.SV.A) is a world leader n liquid/solid separation technologies used to treat waste water and industrial wastes. The company, which employs 1,400 people around the world, also sells technology used to make pulp and paper as well as equipment for the mining and other industrial sectors.