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Benchmark International Successfully Facilitated the Transaction Between Feakle Gas and Plumbing Limited and Water Intelligence plc
July 9, 2024
Benchmark International is pleased to announce the acquisition of Feakle Gas and Plumbing by Water Intelligence.
Feakle Gas and Plumbing is a specialist gas and plumbing company with a wide national and multinational customer base.
Water Intelligence is a multinational water leak detection and remediation company for both clean water and wastewater problems. It offers any diameter pipe to provide leak detection solutions for its residential, commercial and municipal customers. The company has 150 locations across five countries and deploys its solutions through its four operating subsidiaries.
This strategic acquisition allows Water Intelligence to expand its services in the EU. This move aligns with the company’s growth plan to meet increasing EU demand, projected at $476 billion USD by 2030 for water and wastewater infrastructure. The acquisition is set to be funded from Water Intelligence’s existing balance sheet and is expected to synergise with existing operations in the UK.
Alex Cregan, associate director at Benchmark International, commented: "Plumbing services remain a robust sector even in economically uncertain times, thanks to stable demand, resistance to commoditisation, and a large, fragmented market. While consolidation is on the rise, there are ample opportunities for M&A platform expansion, highlighted by this acquisition.
“I wish the very best to Pauric and Water Intelligence going forward and look forward to seeing the Water Intelligence footprint expand across Ireland in the near future."
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