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Just Water has recently purchased 51% of the shares of Hometech Ltd as part of its new investment strategy. Hometech is a 25 year old New Zealand company dedicated to creating healthier homes. Of the 1.7 million homes in New Zealand, Hometech has made a positive contribution to improving the lives of about 15% of them, through installing better natural lighting, better ventilation and/or better heating.
“Healthy homes” is something that fits into Just Water’s mission of “enhancing lives”. In the past year, Hometech had revenues of $18 million and a profit before tax of $2 million. Hometech (www.hometech.co.nz ) was founded in 1992 by Paul Nielsen, who remains in the business as Managing Director. Paul says, “We see immense benefits joining forces with such a successful publicly-listed company, and look forward to working with the management team at Just Water to further enhance the business”.
Just Water (www.justwater.co.nz ) was founded in 1989 by Tony Falkenstein, who will continue in his role as Chief Executive of Just Water, but take on the responsibility of Chairman of Hometech. Tony says, “Hometech has a similar database and values as Just Water, and we see opportunities where we can collaborate”. The effective date of the investment is January 1st 2018.