Waterlogic enters Finland with Thoreau hospitality solution
STOCKHOLM, SWEDEN, 31st MAY 2021 – Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of the Thoreau business of Mixtec Oy and the beverage service business of Beverage Technology Services Finland Oy.
Located in Petikko, Vantaa, Mixtec Oy launched Finland’s Thoreau franchise serving the premium segment of the HoReCa market in 2014. The acquisition of these businesses comes just months after Thoreau International was acquired by Waterlogic Sweden in January 2021. The well-respected Thoreau brand will help Waterlogic launch its hospitality offering for the first time in Finland alongside their Purezza Premium Water brand, with excellent opportunities to introduce the full range of Waterlogic office hydration solutions to all types of businesses across the country.
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.
Mattias Källemyr, CEO Waterlogic Nordic, says, “This is truly a milestone for us and will complete our vision of creating one consolidated Nordic region with Finland being the last piece of the puzzle. With this acquisition, we will launch our Purezza concept to hospitality venues in the country as well as introduce Waterlogic’s full range of solutions. We welcome our new employees in Finland to Waterlogic and wish them every success in our combined business as we continue to grow our footprint in Finland organically and through further acquisitions.”
The acquisition of Mixtec Oy’s Thoreau business brings staff and hundreds of dispensers to establish a base for Waterlogic in Finland, to include a ready-made service platform. The newly formed Waterlogic Finland Oy becomes part of the Waterlogic Nordic group alongside Norway, Denmark and Sweden, providing hydration solutions for a wide range of organisations from hospitality and HoReCa businesses to small and large offices across many sectors and industries.
Mixtec Oy Managing Director Kristian Von Bonsdorff, who joins as Country Manager Waterlogic Finland Oy, says, "This is a very exciting opportunity to leverage the combined strength of two very established and valued hospitality brands as well as to introduce Waterlogic’s cutting-edge hydration solutions for all workplaces, ensuring Finnish people can enjoy the safest and most sustainable water wherever they work.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Mixtec Oy’s Thoreau business 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 19 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.