Waterfront fluid controls Limited UK, a subsidiary of Jash Engineering has entered into an agreement / LOI to acquire Penstocks (UK), Leicestershire, UK. This is subject to due diligence which is expected to be completed in the coming weeks and subsequently, the Share Purchase Agreement (SPA) should also be finalized within November 2025.
With this acquisition, Waterfront will acquire a small manufacturing facility in Midlands along with some special designs of penstock as well as existing clientele of Penstocks (UK), including access to its framework agreement with a water utility company. This acquisition will help Waterfront to establish a pan UK presence with operations in Scotland, as well as Midlands. The major water utility companies in UK are based in Midlands and South of England and hence this additional presence in Midlands will reinforce Waterfront ability to support its clientele in Marketing and Servicing related activities.
This acquisition is in line with company's strategy to become a major player in the UK water equipment industry in next three years' time.