BluMetric Announces Acquisition of Whitteker Environmental Services to Expand Recurring Water Testing Services
Executive Summary
- BluMetric Environmental Inc. completed the acquisition of all issued and outstanding shares of Whitteker Environmental Services Inc. (WES) for a total purchase price of $1,250,000.
- Consideration comprised an $800,000 cash payment, issuance of 248,576 BluMetric common shares at a deemed $1.01 per share, and a contingent earn‑out up to $200,000 payable 12 months post‑closing, subject to WES revenue performance.
- For the twelve months ended Dec 31 2025, WES generated approximately $950,000 of revenue and $350,000 of Adjusted EBITDA (unaudited), adding recurring, non‑seasonal water testing services to BluMetric’s portfolio in Eastern Ontario.
Key Details
- Purchase Price: $1,250,000 total.
- Cash Paid at Closing: $800,000.
- Equity Consideration: 248,576 BluMetric common shares (deemed price $1.01 per share). Shares subject to a four‑month hold period.
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Earnout: Up to $200,000 cash payable 12 months after closing; earnout reduced pro‑rata if WES revenue for the post‑closing 12‑month period is lower than the prior 12‑month period.
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WES Financial Snapshot (unaudited):
- Revenue (12 months ending Dec 31 2025): ≈ $950,000.
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Adjusted EBITDA: ≈ $350,000.
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Strategic Rationale: Acquisition expands BluMetric’s recurring water testing services, adds multi‑year contracts with municipalities, and diversifies revenue away from seasonal fluctuations.
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Location of WES: 4147 Brinston Rd, Brinston, Ontario; provides water and wastewater system operations and testing for municipal and other clients.
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Management Comments:
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Scott MacFabe, Chair & CEO – highlighted the complementary nature of WES services to BluMetric’s professional services and the addition of high‑quality, non‑seasonal revenue streams in Eastern Ontario.
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Closing Conditions: Share purchase agreement dated April 1 2026; consideration shares subject to a four‑month hold period; earnout contingent on future revenue performance.
Notable Quotes
“We’re excited to welcome WES to the team and expand our recurring water testing services… This adds to our capabilities in Eastern Ontario while driving high quality revenues that are not impacted by seasonality.” – Scott MacFabe, Chair & CEO, BluMetric Environmental Inc.