Waterlogic has completed the acquisition of AquaInteriör AB in Sweden for an undisclosed amount through its subsidiary Escowa.
Waterlogic, a vertically integrated global designer, manufacturer, distributor and service provider of drinking water systems, is pleased to announce the acquisition of south Sweden based AquaInteriör. AquaInteriör is a quality player in the Swedish POU market with indirect sales through approximately 50 dealers all over Sweden and direct sales in the local region in the south of Sweden. The acquisition adds approximately 800 POU water coolers in field to the existing Swedish operations, and a substantial additional network of dealers.
The combined Swedish operation will be able to deliver unparalleled service to the workplace hydration market, offering existing and potential customers the most comprehensive offering in POU water coolers, specialty sparkling water. This acquisition represents a substantial bolt-on in Waterlogic Sweden’s path towards becoming a national market leader. “We are thrilled about having AquaInteriör join the Swedish Group (Escowa AB and Waterlogic Sverige AB) and believe this is a great bolt-on to help growth in the future. We warmly welcome AquaInteriör employees and are excited by the prospects of becoming a truly national player. We hope this will also give us the opportunity to encourage additional independent POU watercooler businesses to join the Swedish Group going forward,” says Mattias Källemyr, MD of Waterlogic Sweden and Escowa.
“Escowa and Waterlogic is a perfect match for Aquainteriör, and it feels good to leave the customers and employees in their capable hands”. Ulf Oscarsson, founder and MD to date of Aquainteriör.
Waterlogic was acquired in January 2015 by funds managed by Castik Capital S.à r.l (“Castik”), the European private equity investor. The acquisition of AquaInteriör is the ninth manifestation of the company’s buy-and-build strategy since the acquisition by Castik, following substantial acquisitions in the UK, Australia, Norway, Denmark and USA. Castik believes that this buy-and-build strategy in a fragmented market, coupled with tenacious organic growth in a growing industry with high recurring revenues, can create significant value.
Waterlogic and Castik were advised on the transaction by DLA and PwC. AquaInteriör was advised by Navet AB.
Waterlogic is an innovative designer, manufacturer, distributor and operator of mains attached POU drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to Europe and has been in the forefront of the POU market in terms of product design and quality, the application of new technologies and in sales and service. Waterlogic has an extensive and expanding independent global distribution network in place, reaching over 50 countries around the world.
Waterlogic products are currently being distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular Scandinavia, Germany France and the UK.
More information can be found at www.waterlogic.com
Founded in 2002, AquaInteriör is a significant player in the Swedish POU market. AquaInteriör offers a high quality, environmentally friendly alternative to its direct customers and dealers. AquaInteriör is based in Laholm, South Sweden.
Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multi-strategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams.
Castik has an investment horizon of up to ten years – longer than most other private equity funds. This enables Castik to focus resources on its portfolio companies and ensure sustainable, long-term value creation.
Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.