Waterlogic acquires Quality Water Service in Puerto Rico, Chile and Colombia
UK-based Waterlogic, a global designer, manufacturer, distributor and service provider of purified drinking water dispensers, has acquired QWS Holding and the Quality Water Service (QWS) group of companies in Puerto Rico, Chile and Colombia.
QWS is a leader in the bottle-free water dispenser industry in Puerto Rico, Chile and Colombia, and currently operates tens of thousands of water dispensers and coffee machines for corporate, healthcare, education, leisure, and hospitality customers.
The company has been a distributor of Waterlogic dispensers since 2010, offering sustainable hydration solutions for both business and residential customers.
QWS was co-founded in Puerto Rico in 2006 by Richard Christiansen Sr. and his son, Richard Christiansen Jr., and has successfully expanded its operations in Latin America, with 170 employees now located across its three businesses.
Founded in 1992, Waterlogic is a vertically integrated company operating throughout Europe, the Americas and Australia, with its own manufacturing operations and an extensive independent global distribution network, reaching more than 65 countries.
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. QWS 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 US and Canada, UK, Australia, Spain, France, Germany, Latin America and Scandinavia.
Waterlogic has pioneered the application of advanced technology in the design of its water dispensers to deliver the most sustainable, safest water proven effective against COVID-19. The company is responsible for hydrating nearly 50 million consumers daily and contributes to the reduction of 23.8 billion single-use plastic bottles each year.
For its part, QWS’s regional expansion in Latin America has been backed by Puerto Rico-based private equity firm Advent-Morro Equity Partners since 2010.
“While we have exited most of our investment in QWS, we thought wise to roll over a sizeable piece into Waterlogic equity in order to continue having a stake in a high growth industry with the best company that has been, and continues to be, a pioneer in the bottleless water dispensing industry” Cyril Meduña, managing partner at Advent-Morro, said.
Waterlogic’s acquisition of QWS allows it to establish a direct presence in Puerto Rico and to build on its capabilities and customer base in Chile and Colombia following their market entry with the acquisitions of Aquafree in Chile in 2019 and Hidrospot in Colombia in 2020.
“Our relationship with QWS has been 11 years in the making,” Rodrigo Serres, Waterlogic’s managing director for Latin America, said. “They are a trusted partner who will help us achieve a stronger foothold in Chile and Colombia as well as the opportunity to establish a direct presence for the first time in Puerto Rico.”
“With strong Waterlogic regional management now in place in Puerto Rico, Chile and Colombia following the transaction, welcoming the QWS team of skilled and dedicated experts with an established customer base will help Waterlogic build upon these foundations and achieve a prominent presence in the Caribbean, and in South and Central America,” Waterlogic’s founder and CEO, Jeremy Ben David, said.
Waterlogic reports a strong short to medium term pipeline of M&A across the region as it continues to actively expand its footprint in Latin America to offer an extensive range of freestanding and countertop dispensers, Billi integrated dispensers and Purezza, the company’s specialty restaurant and hospitality solution.
“Waterlogic’s focus on innovation, service, hygiene and sustainability complements our approach to business, and our customers already enjoy the benefits of Waterlogic’s COVID-secure dispensers providing peace of mind to thousands of businesses across Puerto Rico, Chile and Colombia,” Richard Christiansen Jr., co-founder of QWS, said.
“Becoming part of Waterlogic is a natural progression, and this acquisition offers us the chance to provide even more customers with cutting-edge technology across an extensive range of products.”
NLD Abogados acted as lead legal advisor on the deal, while McConnell Valdés, DLA Piper Martínez Beltrán and Skadden Arps Slate Meagher & Flom (UK) acted as legal co-advisors to Waterlogic.
Raymond James & Associates acted as financial advisor and Ferraiuoli acted as legal advisor to QWS.
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