Sale of PHS Waterlogic to Castik Capital
Baird served as the exclusive financial advisor to PHS on this transaction.
AboutPersonnel Hygiene Services Limited (“PHS”) recently sold its water cooler division (“PHS Waterlogic”) to Waterlogic, a portfolio company of Castik Capital (“Castik”).
PHS is a United Kingdom based, market leading provider of workplace services in the areas of hygiene, specialist waste, workplace and confidential data for customers in Europe. PHS is headquartered in Caerphilly, United Kingdom.
PHS Waterlogic is a long established water cooler business active in the United Kingdom, Ireland and the Netherlands. PHS Waterlogic exclusively distributes Waterlogic-manufactured and branded point-of-use ("POU") water coolers, and was originally acquired by PHS from Waterlogic in 2000. The United Kingdom business of PHS Waterlogic will be merged with Angel Springs, one of the leading United Kingdom bottled water and point-of-use businesses acquired by Waterlogic in December 2014. PHS Waterlogic adds a total of c. 90,000 POU water coolers on rental and service contracts to Waterlogic's existing operations to form one of the largest global water cooler businesses with a combined total of approximately 400,000 water coolers on rental and service contracts in field.
Founded in 2014, Castik is a European investment manager, acquiring significant ownership positions in European companies. Castik's investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of €1 billion in July 2015. Castik is based in Luxembourg.
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. Waterlogic has an extensive independent global distribution network reaching around 50 countries in the world. Waterlogic is based in Basingstoke, United Kingdom.
Angel Springs is a leading provider of bottled water coolers, point-of-use water coolers, consumables and related services in the United Kingdom. Angel Springs is headquartered in Wolverhampton, United Kingdom.
For additional information about this transaction, please contact:
- January 2016
- Personnel Hygiene Services Limited
- Technology & Services
- Target Location
- Acquiror Location
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