Consolidated water co. ltd. (nasdaqgs:cwco) acquired 51% interest in perc water corp. from johan perslow, nathan owen, steven owen, robert nespeca, karen sayles, the 2006 severson family trust dated march 6, 2006 and the krebs living trust established february 8, 2002 for approximately $4.1 million.

Consolidated water co. ltd. (nasdaqgs:cwco) acquired 51% interest in perc water corp. from johan perslow, nathan owen, steven d. owen, robert j. nespeca, karen t. sayles, the 2006 severson family trust dated march 6, 2006 and the krebs living trust established february 8, 2002 for approximately $4.1 million on october 24, 2019. the purchase price was paid in cash and is subject to working capital adjustment. as a result of the transaction, john perslow, nathan owen, and steven owen and one additional shareholder now collectively own 49% interest of perc. consolidated water has been granted a call option, exercisable after three years, to purchase the remaining 49% of perc at market value. perc water corp. generated approximately $11.8 million in revenues over the twelve months ended september 30, 2018. the transaction is subject to resignation of all the directors of perc except for johan perslow and nathan owen, completion of audit of perc's financial statements for the fiscal year ended september 30, 2018 and the period from october 1, 2018 to june 30, 2019 by marcum llp, execution of transitional service agreement and employment agreements, execution of stockholders' agreement and minimum balance sheet requirement. driscoll r. ugarte of duane morris llp acted as legal advisor to consolidated water co. nora brunelle of fabian vancott acted as legal advisor to sellers. consolidated water co. ltd. (nasdaqgs:cwco) completed the acquisition of 50.9% interest in perc water corp. from johan perslow, nathan owen, steven owen, robert nespeca, karen sayles, the 2006 severson family trust dated march 6, 2006 and the krebs living trust established february 8, 2002 on october 24, 2019.
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