Waterlogic has acquired Aqua Line ApS (“Aqua Line”) for an undisclosed amount. Aqua Line is an established, family built and operated, Danish water dispenser business which has grown organically since being founded in 1998. Aqua Line specialises in Point of Use (“POU”) water coolers and includes a range of instant boiling taps.
This acquisition further strengthens Waterlogic’s market presence in Denmark, adding over 4,300 new water coolers to the Danish operation and in particular reinforces Waterlogic’s existing position in the Copenhagen area.
Aqua Line will be integrated in to Waterlogic Denmark over time, and existing customers of Aqua Line will be given the opportunity to upgrade to high quality Waterlogic POU water dispensers featuring innovative FirewallTM UV purification technology.
Erik Gulbrandsen, Managing Director Waterlogic Denmark, comments that “The acquisition of Aqua Line cements Waterlogic as a clear leader in the point-of-use water dispensing industry in Denmark, and strengthens our position in the important Copenhagen region.”.
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. The acquisition of Aqua Line is the seventh manifestation of the company’s buy-and-build strategy, following the recent acquisition of Clear Water Group, Norway, and substantial acquisitions in the UK and Australia. Castik Capital believes that this buy-and-build strategy in a fragmented market, coupled with tenacious organic growth in an industry characterised by attractive growth and recurring revenues, can create significant value.
Waterlogic is an innovative designer, manufacturer, distributor and operator of mains attached point-of-use (“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 USA, Australia and Western Europe, in particular Scandinavia, Germany and France.
More information can be found at www.waterlogic.com
Castik Capital Sàrl (“Castik Capital”) manages investments in private equity. Castik Capital 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 Capital is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik Capital S.à.r.l 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.