Deal Details
Sale to Castik Capital
Summary
Baird served as the exclusive financial advisor (and Rule 3 Advisor under the UK Takeover Code) to Waterlogic on this transaction.
About
Waterlogic Plc (“Waterlogic” or the “Company”) recently completed the sale to Castik Capital, the European private equity investment firm (“Castik”) for total equity value consideration of £122.6 million ($195.2 million). Castik made a recommended cash offer for Waterlogic through Poseidon Bidco Limited, an entity incorporated by the Castik-managed EPIC Funds, for its entire issued and to be issued share capital.Waterlogic is a global, leading, vertically integrated designer, assembler, distributor and provider of point-of-use (“POU”) drinking water purification and dispensing systems and services. The Company offers a broad portfolio of its own branded and third-party POU units and aftermarket parts, filters, consumables and services, predominantly to commercial customers for use in offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Since inception in 1992, Waterlogic has deployed over 780,000 units-in-field globally. The Company recorded sales of $124.0 million to over 50 countries in 2013, with a direct presence in Scandinavia, France, Germany, Australia, the United Kingdom and the United States. Waterlogic was listed on London’s Alternative Investment Market (AIM) prior to the acquisition.
Founded in 2014, Castik focuses on identifying and developing investment opportunities across Europe. Castik's investments are made by the Luxembourg-based fund, EPIC I SLP, which had its first fund close of €625m in June 2014, and is targeting a final fund close of €1bn in the coming months. Castik is based in Luxembourg.
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- Date
- January 2015
- Company
- Waterlogic Plc
- Transaction
- M&A
- Sectors
- Industrial
- Target Geography
- Europe
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