Tianjin Motimo unveils $213m acquisition splurge

0

Source: Global Water Intelligence (GWI)

Shenzhen-listed low-pressure membrane specialist Tianjin Motimo has announced that it will pay RMB1 billion ($150 million) for 100% of ceramic membrane manufacturer Jiangsu Kaimi Membrane Technology, as well as a further RMB420 million ($63 million) to acquire Western China-based systems integrator Gansu Jinqiao Water Technology.

Motimo recorded RMB605 million ($92 million) in revenue for the year ending 31 December 2015, and raised RMB400 million ($60 million) through an equity private placement at the turn of the year, but it will likely need to tap external investors again to fund its inorganic growth.

Between August and September, China’s stock markets rose to their highest since before the January 2015 crash, prompting a flurry of fundraising activity. Beijing OriginWater has tabled a new placement to fund its acquisition of industrial sludge treatment firm Beijing Zhongkuang Environmental, while Shanghai Safbon Water hopes to raise RMB1.2 billion ($180 million) following a European M&A spree.

Customer comments

No comments were found for Tianjin Motimo unveils $213m acquisition splurge. Be the first to comment!