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Schroder British Opportunities investment acquires majority stake in Waterlogic

210521 SBO Waterlogic

Schroder British Opportunities (SBO) has announced that it made an investment into the EPIC I-b Fund SLP, a single asset fund managed by Castik Capital, which has acquired a majority stake in Waterlogic Group Holdings Limited, a leading global provider of purified drinking water dispensers, headquartered in the UK.

Who are Waterlogic?

Founded in the UK in 1992, Waterlogic designs, manufactures and distributes drinking water dispensers and solutions designed for environments such as offices, factories, hospitals, restaurants, hotels, schools, and public spaces. It was one of the first companies to introduce bottle-less dispensers, and has subsidiaries in 18 countries. Its leading markets are the UK, Western Europe, USA and Australia.

Its products range from freestanding, countertop and integrated dispensers to water filling stations, fountains and boilers. SBO says that Waterlogic has been at the forefront of the market promoting product design and water quality, the application of proprietary technologies, sustainability and world-class sales and service.

A combination of organic growth and growth driven by acquisition

Waterlogic has driven its growth both organically and through M&A to consolidate its position in existing territories and extend its reach to new markets. In addition, Waterlogic’s extensive and expanding independent global distribution network reaches over 50 countries around the world in North and South America, Europe, Asia, Australia, and South Africa. According to SBO, its far-reaching coverage means Waterlogic is the only water dispenser provider able to cover the geographical needs of global customers under one roof.

Waterlogic has revenues of c. $400m and EBITDA in excess of $150m. The company is vertically integrated with in-house R&D and manufacturing sites in the USA, Australia and China. Strong recent growth has been driven by organic growth initiatives such as new market entry and the launch of innovative new products, and almost 80 add-on acquisitions.

Comments from Tim Creed, Head of UK and European Private Equity at Schroders

We are delighted to be investing into the EPIC I-b Fund and to gain exposure to Waterlogic, a highly successful UK company that has been able to expand globally offering clean water dispensing solutions and contributing to the move to bottle-less workplace hydration. The business has very strong sustainability credentials and considerable future growth potential through continued M&A and new product innovation.”

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