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SciDev: Acquiring Highland Fluid Technology

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SciDev: Acquiring Highland Fluid Technology

  • SciDev acquire Highland Fluid Technology for $8.55 million (US$6 million) after signing a binding heads of agreement
  • Highland is a US company which specialises in bespoke chemistry and services for fluid recycling and water reuse
  • In the 2019 calendar year, Highland also reported revenue of approximately $11.1 million (US$7.8 million)
  • Then the acquisition will give SciDev access to the U.S. oil and gas sector where Highland has a number of existing clients
  • In addition, Highland will be able to tap into SciDev’s existing supply chain
  • Shares in SciDev are trading 8 per cent higher, worth 24 cents apiece

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