Waterlogic, a vertically integrated global designer, manufacturer, distributor and service provider of drinking water systems, is pleased to announce the acquisition of Paris-based Planète Bleue. Planète Bleue is a leading player in the French Point of Use (POU) drinking water market with direct sales all over France.
The combined Waterlogic France operation will continue to be the largest POU player in the French market and deliver unparalleled service to the workplace hydration market, offering existing and potential customers the most comprehensive offering in commercial POU water coolers and specialty water products designed for the hotel, restaurant and café markets. This acquisition strengthens the Waterlogic presence in France, a very exciting market where Waterlogic is already experiencing over 15% yearly growth.
“We are thrilled about having Planète Bleue employees and management join the Waterlogic team in France and believe this is a great platform for future growth. We hope this will also encourage additional independent POU watercooler businesses in France to join Waterlogic going forward,” says Philippe Barnetche, CEO of Waterlogic France.
“We are excited to become part of Waterlogic. Waterlogic and Planète Bleue have a shared culture of focusing on customer service and providing the best solutions. This will benefit our customers and team members and strengthen our position in the French market further” added Veronique Poli, founder of Planète Bleue.
Waterlogic was acquired in January 2015 by funds managed by Castik Capital S.à.r.l (“Castik”), the European private equity investor. The acquisition of Planète Bleue is the thirteenth manifestation of the company’s buy-and-build strategy since the acquisition by Castik, following substantial acquisitions in the UK, Australia, USA, Scandinavia and Spain. Castik believes that this buy-and-build strategy in a fragmented market, coupled with tenacious organic growth in a growing industry with high recurring revenues, can create significant value.
Waterlogic and Castik were advised on the transaction by DLA and PwC. Planète Bleue was advised by Lamartine Conseil.
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Waterlogic is an innovative designer, manufacturer, distributor and operator of mains attached POU drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to Europe and has been in the forefront of the POU market in terms of product design and quality, the application of new technologies and in sales and service. Waterlogic has an extensive and expanding independent global distribution network in place, reaching over 50 countries around the world.
Waterlogic products are currently being distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France.
More information can be found at www.waterlogic.com
About Planète Bleue
Founded in 2000, Planète Bleue is a leading provider of POU water coolers to the French market. Planète Bleue offers a cost-effective, environmentally friendly alternative to traditional bottled water and uses advanced water purification technology. Planète Bleue is based in Paris with over 30 employees covering all of France.
Castik Capital S.à.r.l (“Castik”) manages investments in private equity. Castik is a European multi-strategy 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.
Castik has an investment horizon of up to ten years – longer than most other private equity funds. This enables Castik to focus resources on its portfolio companies and ensure sustainable, long-term value creation.
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.