Vysarn to acquire Waste Water Services

ASX-listed Vysarn Limited has inked a $7.5 million deal to acquire Waste Water Services, a builder of wastewater treatment plants and pumping stations.

James Clement-led Vysarn, a fellow wastewater management company, told the market it had entered into a binding share sale agreement to acquire WWS.

Under the deal, Vysarn would acquire 100 per cent of the issued shares in WWS from Jerry Hogan, the target’s sole shareholder, valued at $7.5 million.

Vysarn said the purchase price assumed that WWS was debt free. That pair have agreed to a level of working capital, according to the ASX statement.

Upon the deal going through, WWS would become a subsidy of Vysarn, which then intends to integrate the business and pursue growth avenues in the sector.

Vysarn is led by former Fremantle Dockers and Collingwood player Mr Clement, who now holds a non-executive director position with the WA club.

Following the acquisition announcement, Vysarn’s shares closed the day up 6.4 per cent to 41.5 cents per share.