Culligan International Combines with Waterlogic Group Holdings

BDT Capital Partners and Mubadala Acquire Majority Interest in Culligan International

August 2, 2021

Industrial Services

BDT Capital Partners, alongside Mubadala Investment Company and its asset management arm Mubadala Capital, closed the acquisition of a majority interest in Culligan International from Advent International and Centerbridge Partners. Advent will retain a minority stake; financial terms were not disclosed. Culligan is a global provider of water treatment products and services headquartered in Rosemont, Illinois.

Waterlogic Acquires Tipperary Water's Water Cooler Business

October 21, 2020

Food & Beverage

Waterlogic has acquired the water cooler business of Tipperary Water from C&C Group plc, adding over 12,000 machines in the field and doubling the size of Waterlogic's Ireland team. The deal expands Waterlogic's footprint in the Republic of Ireland and Northern Ireland as part of its buy-and-build strategy under PE owner Castik Capital.

BCI, Neuberger Berman, StepStone and Skandia Acquire Minority Stake in Waterlogic

April 28, 2020

Manufacturing

British Columbia Investment Management Corporation (BCI), joined by Neuberger Berman, StepStone and Skandia, has closed the acquisition of a significant minority stake in Waterlogic from funds managed by Castik Capital and the Waterlogic management team. The institutional investors provide growth capital to support Waterlogic's global expansion and M&A activity; Waterlogic reports ~ $400M in annualised revenues, c.3,000 employees and ~550k dispensers on rental/service contracts across 17 direct markets.

Waterlogic Acquires Smart Water

July 31, 2020

Industrial Services

Waterlogic has acquired Smart Water, a Kendall Park, New Jersey-based provider of bottleless water coolers founded by Drew and Natalie Chafey in 2002. The deal expands Waterlogic Americas' direct presence in the Mid-Atlantic and brings Smart Water's service-oriented customer base into the Waterlogic platform.

Waterlogic Acquires Waterconcept Hungary Kft

July 23, 2021

Manufacturing

Waterlogic has acquired 100% of the shares of Waterconcept Hungary Kft, a Budapest-based supplier of mains-fed water dispensers serving the premium HoReCa segment. The deal expands Waterlogic's hospitality (HoReCa) offering in Hungary and is part of Waterlogic's buy-and-build strategy while the company remains owned by funds managed by Castik Capital.

Castik Capital's EPIC I‑b Acquires Controlling Stake in Waterlogic

May 21, 2021

Manufacturing

Castik Capital closed its single-asset EPIC I‑b fund at approximately €700m to acquire a controlling majority stake in Waterlogic from Castik’s earlier EPIC I fund. The recapitalization gives Waterlogic a longer investment horizon and additional capital to pursue its buy‑and‑build strategy and global growth; Waterlogic currently reports c. $400m revenue, EBITDA in excess of $150m and has completed nearly 80 add‑on acquisitions.