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Waterlogic secures long-term investment from BCI to accelerate growth ambition


Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce that British Columbia Investment Management Corporation (BCI) has agreed to acquire a significant minority stake in Waterlogic from Funds managed by Castik Capital as well as the Waterlogic management team.

BCI is a leading provider of investment management services to British Columbia’s public sector and one of Canada’s largest asset managers with C$153.4 billion of managed assets as at March 31, 2019. The acquisition provides further access to capital to support Waterlogic’s growth and ambition to become the market leader in bottle-less workplace hydration globally.

Waterlogic has direct presence in 17 countries including the U.S., Canada, Chile, Australia and Western Europe, and an extensive independent global distribution network reaching over 50 countries around the world, responsible for hydrating nearly 50 million consumers daily.

Jeremy Ben-David, Founder and Group CEO of Waterlogic, said: “We are very excited by the many opportunities for accelerated development and growth this deal affords us, both organically and through acquisition. We look forward to building on our capabilities and customer base in both established and new geographic markets in pursuit of our mission to offer healthy drinking water solutions and contribute to the reduction of plastic pollution.”


Since Funds managed by Castik Capital acquired Waterlogic jointly with Waterlogic’s founder Jeremy Ben-David in January 2015, the company has nearly tripled its revenue. During this time, Waterlogic has completed 56 add-on acquisitions globally and entered 10 new direct markets, most recently with the acquisition of Aquafree in Chile.

Jim Pittman, Executive Vice President and Global Head, Private Equity of BCI, said: “We are pleased to be working alongside a talented management team to support the long-term continued growth of the business. Waterlogic is a leading company with a solid track record of success that has the potential to generate value-added returns for our pension plan and insurance fund clients.


The investment significantly strengthens Waterlogic’s position as a global leader in the fast-growing market for workplace hydration solutions through its range of freestanding and countertop dispensers, Billi integrated dispensers and Purezza, the company’s specialty restaurant and hospitality solution.

Inspired by innovation, Waterlogic has embraced superior FirewallTM and BioCote® technologies to create cutting-edge, highly-certified products focused on delivering the safest, best-tasting water to all businesses in the most sustainable way. The company’s environmental approach supports the growing demand from organisations looking to reduce the plastic pollution and high CO2 emissions associated with bottled water, and supports Waterlogic’s long-term growth and relevancy in the marketplace.

Waterlogic has annualised revenues of $400M and c. 550k water dispensers on rental and service contracts across 17 direct markets.

Waterlogic was advised by Goldman Sachs International, Skadden (legal), PwC (financial and commercial), Deloitte (tax), L.E.K. (commercial), and EY (Luxembourg legal).

The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2020.

Media Contact

Rosanna Turner, Group Marketing Communications Manager

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and solutions 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 most sustainable way. 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 17 countries and its leading markets are the US, Australia and Western Europe, in particular the UK and Germany. 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. More information can be found at

About Castik

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 is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015. More information can be found at

About BCI

With C$153.4 billion of managed assets, British Columbia Investment Management Corporation (BCI) is a leading provider of investment management services to British Columbia’s public sector and one of Canada’s largest asset managers. BCI generates the investment returns that help its institutional clients build a financially secure future. With its global outlook, BCI seeks investment opportunities that convert savings into productive capital that will meet its clients’ risk/return requirements over time. BCI invests across a range of asset classes: fixed income; mortgages; public and private equity; real estate; infrastructure; and renewable resources. More information can be found at