Buyer Dossier: H2O Innovation

Buyer Profile

Ticker

TSX: HEO | OTCQX: HEOFF

Headquarters

Quebec City, QC, Canada

Revenue

Not disclosed (public; ~CAD $200M range)

Business Segments

WTS, Specialty Products, O&M

Growth Strategy

Active North American Acquisitions

Fiscal Year End

June 30

IR Contact

investor@h2oinnovation.com

Website

h2oinnovation.com

Key Contacts

Name	Title	Coverage	Email
Frederic Dugre	President & CEO	Strategic direction, M&A	—
Marc Blanchet	CFO	Capital allocation, transactions	—
IR Team	Investor Relations	Shareholder & deal inquiries	investor@h2oinnovation.com

Strategic Fit

H2O Innovation is among the highest-fit strategic buyers in AquaScience's universe. As a pure-play water treatment company with three complementary segments — Water Technologies & Services, Specialty Products, and O&M — it benefits from an AquaScience acquisition across all three lines simultaneously.

The WTS segment can deploy H2O's proprietary treatment technologies through AquaScience's established Wyoming customer base. The Specialty Products segment gains a new route for chemical and consumable cross-sell. The O&M segment absorbs AquaScience's operational contracts into a scalable managed-services portfolio. Wyoming becomes a new geographic market with immediate installed-base revenue.

H2O Innovation's explicit buy-and-build strategy, public-market capital access, and cultural proximity as a mid-market water operator make integration straightforward compared to a large industrial conglomerate. Both companies speak the same operational language.

Approach Strategy

Call Opener: "H2O Innovation has been one of the most active acquirers in North American water treatment — we represent an owner-operated treatment company in Wyoming that fits your three-segment model cleanly. WTS, specialty chemicals cross-sell, and O&M contracts are all in play. Worth a conversation?"

1

Three-segment synergy from day one. AquaScience's operations feed all three of H2O Innovation's business lines — not just one. This is a rare acquisition that is immediately accretive to WTS revenue, chemical sales volume, and O&M contract count.

2

Wyoming is a white-space geography. H2O Innovation's North American footprint has limited Mountain West presence. AquaScience delivers established customer relationships, local regulatory knowledge, and operational infrastructure in a new market.

3

Compatible scale and culture. Unlike Xylem or Veolia, H2O Innovation is a mid-market operator — AquaScience won't be lost inside a conglomerate. The integration would preserve local service culture while adding the resources of a public water technology company.

Pipeline History

Date	Activity	Contact	Outcome	Status
—	Initial Research & Profile Build	Internal	Dossier compiled	Complete
—	First Outreach	Larry Casey	Pending	Next Step