We analyse from the point of view of corporate finance perspective. We comment on the operation carried out by Fluidra, which has confirmed the sale of its Israeli subsidiary Aquatron Robotic Technology to the Austrian company Best Water Technology. At the end, we discuss the most relevant movements in the sector.
Aquatron Robotic Technology, pool cleaning robot experts
Founded in 1980 and based in Afula, Israel, Aquatron Robotic Technology is dedicated to the manufacture and distribution of robotic pool cleaners worldwide. It is a subsidiary of the Catalan company Fluidra.
The multinational group Fluidra is dedicated to the development of applications for the sustainable use of water, making it a leader in the global swimming pool industry. Its product portfolio includes some of the most recognised brands in the pool and wellness sector. It has its own branches in 45 countries and distributes its products in more than 170 countries.
With the recent merger with ZodiacThe company now has more than 5,500 employees and the combined resources to accelerate innovation in important areas such as energy efficiency, robotics and IoT. However, it has recorded a loss of €18.5 million due to merger-related expenses in the merger with Zodiac.
Best Water Technology as the acquiring company
BWT Aktiengesellschaft, the Austrian company dedicated to the development and commercialisation of water optimisation solutions, has completed the purchase of Aquatron.
Fluidra has signed a contract for the sale of its subsidiary for an expected initial price of 26.2 million euros, as part of the fulfilment of the merger conditions with Zodiac imposed by the European Commission.
The Catalan multinational will transfer 100% of Aquatron's share capital to BWT, according to the terms agreed in the sale. The transaction is expected to close in the coming months.
The sale of Aquatron was one of the conditions to which Fluidra committed to Zodiac in order to comply with the authorisation that Brussels imposed on their merger on 27 June.
International industry figures
Below, we outline the most relevant investments in the water robotics sector made recently.
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