Water Is Life Group, the business cluster in water technology of entrepreneur Reinier Teunissen, has acquired the company Orlando Watertechnology in Italy. It is a distributor of pumps and other materials and has customers in 42 countries. This acquisition should help Peltse to increase its turnover from 25 million in 2020 to 45 million by the end of this year.
'We completed this significant acquisition last week,' said Reinier Teunissen. 'We're quite proud of this, although our company is still in mourning. Tom Van Bulck just passed away at the age of 37. We lost an extremely valuable and widely respected colleague. His passing has had a tremendous impact on our group. So this is not the time to be airing euphoric messages.'
'Nevertheless, we must go on. For me as founder, the task is to continue to steer our group in our growth plans. This includes strategic acquisitions. A unique opportunity presented itself in Italy, which is the birthplace of pumps. Orlando Watertechnology has been an established water technology distributor and pump specialist since 1993. They grew a massive export market over all those years and have customers in 42 countries. Owner Augusto Orlando, who is almost 74, is looking forward to retirement, so he was looking for and found the right buyer. At Water Is Life Group, we are extremely pleased that we were able to add this fine company to our group as the 10th in a row.'
This acquisition increases the number of employees to almost 100. Total turnover, which was 25 million in 2020 and 31 million last year, is budgeted at 45 million for this year. 'Our ambition is the same, we want to achieve an average annual growth rate of 20 to 25%,' concluded Reinier Teunissen.