Tuesday, 5 June 2007

HydraLogic Acquires Third Coast Mosquito Control Bug DeFence

HydraLogic announced today that it has signed an agreement to acquire Third Coast Mosquito Control Bug DeFence making it the largest home services mosquito control company in
South Florida and Greater Houston Area.

Third Coast is a well established privately held mosquito control services company with nearly 600 customers in the greater Houston market and is supported by a network of over 50 dealers in 12 Southern US States. The company achieved unaudited revenues of USD $1.65 million in 2006, which HydraLogic expects to grow through the consolidation of operations and products at its head office in Houston. HydraLogic has agreed to pay USD $1.5 million in combined cash and common shares for the assets of the company.

As part of the asset purchase, HydraLogic will also become owner of an additional line of
proprietary, patent pending, and value added mosquito control products currently being sold.

Acquisitions such as Bayou City, M-Nix and now Third Coast, combined with strong organic growth, are accelerating HydraLogic's wholesale dealer program to now nearly 90 companies in the Southern United States, and has positioned the company for its store retail products expected to be launched later this year.

Click here to read the release