Waterlogic to acquire Elite Water & Coffee
Waterlogic Americas expands its presence into the Magnolia State
GRAPEVINE, TX, JULY 31st, 2020 --- Waterlogic, a vertically integrated global designer, manufacturer, distributor, and service provider of drinking water systems, is pleased to announce the acquisition of Elite Water & Coffee. The company is a provider of Waterlogic bottleless water coolers, ice machines, and coffee. Elite has been owned and operated by Greg Pollack in Jackson, Mississippi since 2008.
"I am excited to announce our sale to Waterlogic. The last few months have created a lot of economic uncertainty but Waterlogic remained steadfast in its commitment to completing a fair deal. I am grateful for their flexibility and creativity during this time." Greg Pollack, Owner, Elite Water & Coffee
The acquisition represents both a significant addition to Waterlogic Americas' water and coffee customer base while also bolstering its national presence. Waterlogic is now positioned to effectively further grow into this new territory.
"I am pleased to announce the acquisition of Elite Water & Coffee, a longtime Waterlogic commercial products dealer. Greg developed a great water and coffee business throughout the state of Mississippi while growing an impressive customer base. We are excited for our direct entry into this new market." Casey Taylor, CEO, Waterlogic Americas
This marks Waterlogic Americas' 2nd acquisition of 2020, and 16th since the start of 2019. This acquisition signifies another step in Waterlogic's path towards its growth objectives. Waterlogic is dedicated to growth in the Americas, both through organic sales and acquisitions.
More on Waterlogic's M&A process can be found at www.waterlogic.com/en-us/merger-and-acquisitions or by reaching out directly to our M&A team.
M&A Contact
Joshua Forcum, VP of M&A, 317-225-5747 or joshua.forcum@waterlogicusa.com
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 www.waterlogic.com.
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 www.castik.com.