Overview
Project Splash provides water utilities with a free (to the user) customer engagement and conservation diagnostics platform, with guided ordering and purchasing of directly-relevant hardware solutions.
This multi-lingual platform acts as a customer acquisition funnel, gathering behavioural data about how individual households and businesses use water in their home, via a survey.
The business has also developed a sustainability-themed marketplace, that sits alongside the platform, which allows for the same needs identified through the survey to be satisfied through a selection of products. This will facilitate growth overseas through recurring advertising revenue.
Having built up a highly reputable business that has successfully engaged with millions of households, the company is now being offered for sale to facilitate software growth overseas under the impetus of new ownership.
Offers invited.
Key Highlights
- Has launched numerous patented and exclusive water-saving products.
- Branded platform for overseas water utilities to receive share of revenue from participating SaaS commercial organisations, while accessing all collated customer data for demand management analytics.
- Unique position as first step to engage customers in water conservation, complementing water utility meter and billing data.
Broad range of considered and convenience water-specific and general impact products, provided by local, and national enterprises to maximise addressable advertiser universe.
- 16 water companies currently license the Company’s software.
- Exponential growth opportunities through sustainability data collected via its online platform.
- Offered as a fully relocatable opportunity.
Financial Highlights
- Turnover of £7.4m in YE23, with an adjusted EBITDA of £632k.
- YE24 forecasted turnover in excess of £6.3m, with an adjusted EBITDA of £262k accounting for end of five year water company budget cycle, as seen in previous years.
- Strong margins driven by significant product revenue, underpinned by growing SaaS business.
- Commercialised proprietary technology self-investment of £2m.
- Expects several clients to apply for significant funding for a cistern device via the Ofwat’s Innovation Fund of £100m. This is expected to generate from £2.5m to £5m per year between 2025 and 2030.
- Ongoing trial with Indian multinational company, with current discussions with US and European water utilities.
