November 19, 2021
Grupo Rotoplas, SAB de CV (BMV: AGUA) (“Rotoplas” or the “Company”), America’s leading company in water products and services, announces that in accordance to its strategy for developing a water ecosystem, today it agreed to acquire a minority stake in Banyan Water, a tech company established in 2011 that uses the power of data and analytics to deliver water savings & relevant metrics to its customers in the United States of America.
As part of the agreement, Rotoplas will have 1) a seat on the Board of Directors of Banyan Water, 2) a joint innovation program for the development of new digital solutions to power Rotoplas’ next generation of products & services and 3) exclusivity to commercialize the water management software & digital solutions for the Latin American market.
“We couldn’t be more excited to have Rotoplas as a strategic partner and investor in Banyan. Working in partnership with Rotoplas to bring digital water solutions to its customers in Latin America will be a winning strategy for water conservation and for Banyan’s growth in the global marketplace” Gillan Taddune, President & CEO Banyan Water.
“At Rotoplas, we are inspired by water and now we are building new digital solutions to manage it better. We feel very motivated by this new partnership with Banyan Water as we believe this will accelerate the digital growth of Rotoplas’ into its new generation of products and services, providing data and analytics for smarter water management to our customers” Carlos Rojas Aboumrad, CEO Grupo Rotoplas.
About Banyan Water
Founded in 2011, Banyan Water is the leading provider of data-driven water conservation software for the built environment. Using smart devices and real-time monitoring and analytics, Banyan protects Earth’s most precious resource while generating untapped revenue for clients. Since the company’s inception, Banyan has saved more than 4 billion gallons of water—equivalent to the resources required to make over 150 million pints of beer—secured the esteemed EPA WaterSense label on select products, and, in 2020, increased customer asset value by $36 million. For more information, visit www.banyanwater.com.
About Grupo Rotoplas S.A.B. de C.V.
Grupo Rotoplas S.A.B. de C.V. is America’s leading provider of water solutions, including products and services for storing, piping, improving, treating and recycling water. With over 40 years of experience in the industry and 19 plants throughout the Americas, Rotoplas is present in 14 countries and has a portfolio that includes 27 product lines, a services platform and an e-commerce business. Grupo Rotoplas has been listed on the Mexican Stock Exchange (BMV) under the ticker “AGUA” since December 10, 2014.
View source version on https://bmv.com.mx/docs-pub/eventemi/eventemi_1142996_1.pdf