Waterlogic acquires Waterconcept Hungary to expand HoReCa offering
BUDAPEST, HUNGARY, 23rd JULY 2021 – Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of 100% of the shares of Waterconcept Hungary Kft.
Located in Budapest, Waterconcept Hungary Kft is a leading supplier of mains-fed water dispensers to the premium segment of the HoReCa market. Their well-respected Thoreau brand will help Waterlogic expand its hospitality offering in Hungary alongside the Purezza Premium Water brand.
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. Its specialty hospitality solution, Purezza delivers premium dispensing solutions that enable venues to utilise their own locally-sourced water supply and reusable glass bottles to offer to their customers, providing valuable revenue and profit-making opportunities as well as long-term environmental value.
Levente Nagy, CEO Waterlogic Hungary, says, “The acquisition of Waterconcept enables us to grow our premium hospitality solution in Hungary in support of our commitment to the sector. The highly regarded Thoreau brand very clearly aligns with our own Purezza solution to offer venues a high-quality, profitable yet sustainable drinking water solution for customers.”
The acquisition of Waterconcept Hungary Kft results in the addition of a number of top quality venues to expand Waterlogic’s HoReCa offering in Hungary, helping to further reduce the detrimental effect of single-use glass and plastic bottles on the environment.
Waterconcept Hungary Kft Managing Director Balázs Sütő says, "The deal was a natural fit enabling our customers to benefit from the same outstanding product and service they are accustomed to, from a global company well-known for its focus on delivering hygienically safe and environmentally conscious water dispensing solutions.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Waterconcept Hungary Kft 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.
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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 20 countries and its core markets are the U.S, Australia and Western Europe, in particular the UK, Germany and Scandinavia. 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 third fund, EPIC I-b, closed in May 2021 with a volume of €700m and is a single asset fund that owns a controlling stake in Waterlogic. The advisor to Castik is Castik Capital Partners GmbH, based in Munich.