Aquarion AG seeks €10 million capital increase
Published October 4th, 2018
Swiss industrial water EPC company Aquarion AG is looking to raise €10 million of equity capital to help fund an aggressive acquisitions programme aimed at broadening the company’s reach, while boosting EBITDA into positive territory.
“We have seen very interesting targets in markets where we want to be present, and I hope we can announce the first acquisitions this year,” CEO Karl Michael Millauer told GWI.
Millauer also explained that a portion of the new funds would be used as working capital for project financing, given that the group is currently bidding on a number of smaller-scale BOT (build-operate-transfer) projects for industrial clients in emerging markets.
Aquarion is forecasting in excess of €60 million of revenues in 2018, and while it will need all its stars to align in order to achieve break-even at the EBITDA level this year, Millauer is confident that this can be achieved in calendar 2019.