OriginClear looking to buy more companies to strengthen its water business

US based water technology firm OriginClear has announced its strategic plan for the next three years during which it looks to acquire five or more water treatment service companies.

Earlier this month, the firm had bought Dallas-based Progressive Water Treatment (PTW) in an all-stock transaction. PWT is expected to generate six million dollars in 2015 revenues for OriginClear.

OriginClear CEO Riggs Eckelberry said: "Now that our technology is proven, we can focus on acquiring profitable companies in the fast-growing water treatment services sector.

"With our first Definitive Agreement under our belt, we plan to continue to look selectively at additional candidates for the OriginClear Family of Companies."

The companies that OriginClear will target should have local and regional strengths with revenues of five million dollars to $20m, besides being service-intensive and customer-facing.

Presently, only country based companies are being considered.

OriginClear senior vice president Bill Charneski said: "We know that founders of successful water treatment businesses may have long-term exit or retirement concerns.

"By joining the OriginClear Family of Companies, they have an opportunity to own a piece of an established public company. And they will continue to operate under their existing brand, with support from us only as needed."

"The ideal company would be owned by the founders, there for the duration, and backed by a strong executive team.

"Anyone wanting to sell their company so they can retire should not apply. We want go-getters who want to help create a new game."

OriginClear announced its future acquisition strategy as a part of its recent presentation titled, ‘Today & Tomorrow – OriginClear and its Family of Companies’.