Waterlogic, a global designer, manufacturer, distributor and service provider of purified drinking water dispensers, has closed on the acquisition of a significant minority stake in the company by four institutional investors— BCI, Neuberger Berman, StepStone and Skandia.
The closing follows January’s announcement of British Columbia Investment Management Corporation (BCI) entering into an agreement to acquire a significant minority stake in Waterlogic from funds managed by Castik Capital and the Waterlogic management team.
Jeremy Ben-David, founder and group CEO of Waterlogic, said, “This is a very pleasing result and a testament to Waterlogic’s businesses resilience, especially considering the unprecedented economic downturn and turbulent times we currently find ourselves in. The acquisition provides further access to capital in support of Waterlogic’s growth ambition to become the global leader in the fast-growing market for bottle-less workplace hydration. We look forward to continuing our journey with Castik Capital and the new shareholders in this next exciting phase of our growth.”
Waterlogic has a direct presence in 17 countries including the U.K., U.S., Canada, Chile, Australia and Western Europe, and an independent global distribution network reaching over 50 countries.
The company said it aims to build on its capabilities and customer base in both established and new geographic markets in pursuit of its mission to offer healthy drinking water solutions and contribute to the reduction of plastic pollution globally with a range of freestanding and countertop dispensers, Billi integrated dispensers and Purezza, the company’s specialty restaurant and hospitality solution.