BIO-UV Group — M&A Activity 2019

Sep 19, 2019

PRESS RELEASE Lunel, 19 September 2019

Acquisition of 100% of shares in Triogen Holdings Limited, a SUEZ Water Technologies & Solutions entity

Acquisition of a global specialist in water treatment systems using ozone, UV and advanced oxidation technologies

A growth driver for BIO-UV Group's historic activities

BIO-UV Group (ISIN code: FR0013345493/ Ticker: ALTUV), a specialist in UV water treatment systems, is today announcing the acquisition of 100% of Triogen Holdings Limited and its subsidiary Suez Purification and Disinfection Systems Ltd (together known as 'Triogen'), a global specialist in the design and manufacturing of water treatment systems using ozone, UV and AOP (Advanced Oxidation Process) technologies.

The acquisition, with a price of £6,290,000, was partly financed through the company's own funds, with the remainder financed by debt (bank loan, financing from Bpifrance Financement and a bond issue).

Triogen: €8m in revenues and EBITDA of 10% of revenues

Triogen has designed, manufactured and sold water treatment solutions using ozone, ultraviolet (UV) and advanced oxidation processes (AOP) for over 30 years. Its solutions are used in the leisure industry, aquariums and aquaculture. Triogen is based in Scotland and employs 35 people.

In 2018, it generated revenues of €8m (30% in UV and 70% in ozone) and its EBITDA amounted to 10% of revenues.

Launch of a strategic partnership and sales agreement with SUEZ WTS

The acquisition also marks a decisive step forward with the launch of a strategic partnership and sales agreement between BIO-UV Group and a company that is part of the SUEZ WTS division.

Alongside the acquisition of Triogen, sales and licencing agreements were signed. Under the sales agreement entered into for an initial term of four years, the company part of the SUEZ WTS division has undertaken to purchase a minimum amount of licenced products manufactured by the new entity from BIO-UV Group, for a period of three years.

Major synergies with the Group's historic activities

Triogen's activities offer a number of synergies with BIO-UV Group's business, including:

• Mutual sales growth with access to new geographical areas, in particular in Asia and Europe;
• Complementary products and certifications, which will boost BIO-UV's growth potential in its historic activities. The acquisition will bolster BIO-UV Group's portfolio with the addition of ozone solutions and advanced oxidation process (AOP) technology, in which Triogen has built an

international reputation. At the same time, Triogen will benefit from BIO-UV's leadership in UV technology to accelerate its growth in markets with strong demand.

Commenting on the deal, Benoit Gillmann, Chairman and Chief Executive Officer of BIO-UV Group, said: "We are delighted and proud to be announcing this strategic acquisition, which marks a major step forward in our growth plan, in line with our commitments. From the outset, our plan was based on balanced growth between our historic activities with their many applications and ballast water treatment. This acquisition fits perfectly with our commitment to delivering growth and ensuring a balance between these two core activities, which represent our Group's strength. The deal made with a global leader in water treatment also provides for a lasting strategic partnership with SUEZ WTS operational teams. The addition of Triogen's ozone and advanced oxidation technologies to our portfolio will also provide us with a major competitive advantage. These technologies fully complement our traditional expertise in UV treatment, and will strengthen our positions on our historic markets while placing us in a strong position to seize new business opportunities. We are convinced that the integration of Triogen will be a success and that we will develop considerable synergies with the support of SUEZ WTS. This acquisition also bolsters our confidence that we will achieve the goal set on our IPO of reaching €40m in revenues by 2022."

Next press release: 23 September 2019, first-half 2019 results

About BIO-UV GROUP

Created in 2000, BIO-UV Group designs, manufactures and markets innovative ultraviolet water treatment systems. The range of equipment developed by the Group is aimed at several markets:

• The recreative market, on which BIO-UV Group is no. 1 in France and in Europe for UV water treatment in residential swimming pools, and for the commercial and semi commercial community pool dechloramination market;
• The municipal and industrial markets, on which specific ranges have been developed for applications such as: purification, effluent treatment, wastewater reuse, process waters, aquaculture, etc.;
• The ballast water treatment market, which has benefited since 2017 from a new international regulation requiring all ships to have equipment to treat their ballast water.

BIO-UV Group has been granted the "Innovative Company" label by Bpifrance and is eligible for the French "PEA-PME" investment scheme.

Contacts:

BIO-UV Group +33 4 99 13 39 11 invest@bio-uv.com

ACTIFIN, financial communications Alexandre Commerot +33 1 56 88 11 11 biouv@actifin.fr

ACTIFIN, Press Relations Isabelle Dray +33 1 56 88 11 29 idray@actifin.fr