INFRONEER Holdings Inc. [5076.T]
TOKYO, Apr 14 (Pulse News Wire) – Infroneer Holdings Inc. (5076.T) completed the acquisition of Watering Co., making it a fully-owned subsidiary, through a share purchase agreement signed.
The deal was approved during a special board meeting held on the same day. Watering Co., established in 1977, specializes in water treatment plant operations and maintenance, design, and construction. It also manages public-private partnership water supply projects across Japan. With approximately 2,000 field engineers, Watering provides comprehensive services including operation management, maintenance, and emergency responses for various water treatment facilities nationwide. This acquisition aligns with Infroneer's strategy to manage infrastructure from upstream to downstream, aiming to become a comprehensive infrastructure service provider.
By combining Watering’s engineering expertise with Infroneer’s project management capabilities, the companies aim to enhance their integrated water utility services and expand into road and public facility management. Watering had a capital of ¥23.99 billion as of March 31, 2025, and reported operating profits of ¥1 billion, ¥1.083 billion, and ¥1.2 billion for fiscal years ending March 2023, 2024, and 2025, respectively. The transaction is expected to close on July 1, 2026, subject to regulatory approvals. Infroneer plans to finance the deal using existing cash reserves and bank borrowings. Further details on financing arrangements will be disclosed once finalized.
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