Sale to A. O. Smith Corporation

Industrial
Sale to A. O. Smith Corporation

Summary

Baird served as financial advisor to Aquasana, Inc.

About

Aquasana, Inc. (“Aquasana” or “the Company”), a portfolio company of L Catterton, recently announced its sale to A. O. Smith Corporation (“A. O. Smith”) (NYSE:AOS) for a purchase price of $87 million on a debt/cash free basis.

Aquasana designs, assembles and markets premium performance water treatment products, including whole-house treatment systems, drinking water solutions for at home and on-the-go, and shower filters. Aquasana sells its products primarily to United States consumers through its e-commerce website, as well as through retail outlets and distributers. Under L Catterton's ownership, Aquasana revenues more than tripled, far outpacing already robust category growth. Revenue growth was driven by the launch of award-winning, innovative products, expansion of the Company’s water-for-life recurring revenue program and development of highly distinctive digital marketing capabilities. Aquasana is headquartered in Austin, Texas.

L Catterton, formed in 2016 through the partnership of L Catterton, LVMH and Groupe Arnault, is operating multiple funds out of seventeen offices across five continents. Since its founding in 1989, L Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. L Catterton builds on this heritage and the strong track record of LVMH and Groupe Arnault's existing European and Asian private equity and real estate operations, conducted under the L Capital and L Real Estate franchises. L Catterton invests in all major consumer segments, including: Food and Beverage, Retail and Restaurants, Beauty and Wellness, Fashion and Accessories, Consumer Products and Services, Consumer Health, and Media and Marketing Services, as well as real estate projects anchored by luxury retail. L Catterton is headquartered in Greenwich, Connecticut.

A. O. Smith is a global leader applying innovative technology and energy-efficient solutions to products manufactured and marketed worldwide. A. O. Smith is one of the world’s leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products. A. O. Smith is headquartered in Milwaukee, Wisconsin.

For additional information about this transaction, please contact:

Steve Guy +1 (414) 765-7247
Jon Fitzsimmons +1 (414) 298-2460
Jeff Seaman +1 (312) 609-4687
Julien Darmon +44 (207) 667-8415
Industrial
Sale to A. O. Smith Corporation
Date
August 2016
Company
Aquasana, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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