Waterlogic acquires Hidrospot, Colombia’s leading water dispenser company
MAIDENHEAD, UK, 30th NOVEMBER 2020 – Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of Hidrospot.
Established in 2009, Hidrospot has seen fast growth across Colombia to enjoy a market leading position in point-of-use (POU) with circa 5,000 drinking water dispensers located in national banks, multi-national corporations, manufacturing and education establishments. The company is headquartered in Bogotá with 40 employees.
Founded in 1992, Waterlogic has pioneered the application of advanced technology in the design of its water dispensers to deliver the safest, best-tasting water proven effective against COVID-19, in the most sustainable way to organisations around the world. Waterlogic is a vertically integrated company operating throughout Europe, the Americas and Australia with its own manufacturing operations in Australia, China and the U.S, and an extensive independent global distribution network reaching over 50 countries.
The deal builds on Waterlogic’s growth ambition in Latin America following their market entry with the acquisition of Aquafree Chile in 2019.
Jeremy Ben David, Waterlogic Founder and Group CEO said, “Their local market knowledge, expert team and established customer base makes Hidrospot the natural partner to support Waterlogic’s growth ambition in Colombia and across the region. We look forward to welcoming the Hidrospot team under the leadership of Patricia Restrepo and Juan Felipe Borrero, to continue the outstanding hard work and dedication to the hydration needs of their customers they have provided over the last 11 years.”
Both companies share similar values; focusing on excellent customer service and providing the best and safest drinking water solutions to all types of organisations without the need for plastic bottles.
Patricia Restrepo, Hidrospot founding partner, and Juan Felipe Borrero, Hidrospot founding partner and General Manager, commented, “We are very happy to become part of this amazing team and we value the development, growth and business opportunities that Waterlogic brings. We look forward to introducing premium high-volume solutions for the hospitality sector as well as COVID-secure dispensers providing value-added peace of mind to our customers in Colombia.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Hidrospot is the most recent acquisition as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the U.S. and Canada, UK, Australia, Spain, France, Germany, Latin America and Scandinavia.
- ENDS -
Rosanna Turner, Group Marketing Communications Manager
Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and accessories designed for environments such as offices, factories, hospitals,
restaurants, hotels, schools and public spaces. From freestanding, countertop and integrated dispensers to water filling stations, fountains and boilers, every solution focuses on delivering the best quality water in the safest and most sustainable way. An extensive range of consumables and accessories adapts to customer needs and is available on subscription service to guarantee cost savings and continuous supply.
Founded in 1992, Waterlogic was one of the first companies to introduce mains-fed dispensers to customers worldwide, and 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.
Waterlogic has its own subsidiaries in 18 countries and its leading markets are the U.S., Australia and Western Europe, in particular the UK and Germany. The company drives growth organically and through M&A to consolidate its lead in existing territories and extend its reach to new markets. In addition, Waterlogic’s extensive and expanding independent global distribution network spans over 50 countries around the world in North and South America, Europe, Asia, Australia and South Africa. Its far-reaching market coverage means Waterlogic is the only water dispenser provider able to cover the full geographical needs of global customers under one roof. More information can be found at www.waterlogic.com
Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik Capital focuses on identifying and developing investment opportunities across Europe. The investments are made by the Luxembourg based EPIC funds. The first fund, EPIC I, had a volume of €1 billion and was raised in 2014/2015. The second fund, EPIC II, had its final close in October 2020 and a volume of €1.25 billion. The advisor to Castik is Castik Capital Partners GmbH, based in Munich.