CONTRIBUTED BY
Megan Muir
As reported in The Seattle Times, Bothell-based HaloSource recently completed its initial public offering of shares on the London AIM stock exchange. HaloSource plans to use the proceeds to pay down existing debt and to accelerate growth. A few large shareholders also obtained some liquidity as they sold shares in the offering. Because the company’s shares have not been registered in the United States, the AIM exchange filings are not generally available here. In its prospectus, the company anticipates substantial (40%) growth in 2010 versus 2009 sales.
HaloSource develops and manufactures water purification and treatment products as well as antimicrobial coatings for textiles. Their purification products help provide safe drinking water at the point of use, something badly needed in the developing world. It’s an interesting opportunity for doing well while doing good.
With its antimicrobial textiles, HaloSource sells a retail product co-branded with Clorox, Clorox® FreshCare® Towels Powered by HaloShield. This product line is available in North America, including Wal-Mart, Target, Bed Bath & Beyond and K-Mart, as well as online at www.drugstore.com. You can read more about that product line here. The idea is that the towel coating eliminates odors from kitchen and bathroom towels by reducing certain bacteria. If you haven’t seen the HaloSource products yet, if they meet their growth estimates, you likely will soon. It will be interesting to see how this local company does with its international expansion plans, as well as how it performs on AIM.