M&A Deal Summary

AquaVenture Holdings Acquires Quench USA

On October 20, 2014, AquaVenture Holdings acquired beverage company Quench USA from Element Partners and Advent Morro Equity Partners

Acquisition Highlights
  • This is AquaVenture Holdings’ 1st transaction in the Beverages sector.
  • This is AquaVenture Holdings’ 1st transaction in the United States.
  • This is AquaVenture Holdings’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2014-10-20
Target Quench USA
Sector Beverages
Buyer(s) AquaVenture Holdings
Sellers(s) Element Partners
Advent Morro Equity Partners
Deal Type Merger

Target

Quench USA

King of Prussia, Pennsylvania, United States
Quench USA is a water technology company that provides businesses with high-quality filtered water and other products enabled through its production, such as ice, coffee and tea. Quench systems are rented to its customers, and purify tap water using state-of-the-art technology, eliminating the need for environmentally-wasteful and expensive water delivery. Quench USA was formed in 1997 and is based in King of Prussia, Pennsylvania.

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Buyer(S) 1

Buyer

AquaVenture Holdings

Tampa, Florida, United States
Category Company
Founded 2006
Sector Environmental
Employees665
Revenue 146M USD (2018)
DESCRIPTION

AquaVenture Holdings LLC is a multinational provider of Water-as-a-Service, or WAAS, solutions that provide customers with a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer. AquaVenture offers its solutions in North America, the Caribbean, Latin America, and the Middle East. AquaVenture was formed in 2006 and is based in Tampa, Florida.

DEAL STATS #
Overall 1 of 2
Sector (Beverages) 1 of 1
Type (Merger) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 AUC Group

Houston, Texas, United States

AUC Group LP is a provider of a wastewater treatment and water reuse solutions primarily to property developers and municipal customers, including utility districts, in the United States. AUC Group was founded in 1970 and is based in Houston, Texas.

Buy $130M

Seller(S) 2

SELLER

Element Partners

Wayne, Pennsylvania, United States

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2005
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Element Partners is a specialist private equity firm focused on late-stage investments in alternative energy and clean technology companies. Target businesses are at or near profitability with experienced management. Sectors of interest include energy/power, water/environmental controls, chemicals/advanced materials, and manufacturing/industrial. Element Partners was formed in the year 2005 and is based in Radnor, Pennsylvania.

DEAL STATS #
Overall 17 of 25
Sector (Beverages) 1 of 1
Type (Merger) 2 of 2
State (Pennsylvania) 4 of 5
Country (United States) 15 of 22
Year (2014) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-11 FiveCubits

Livermore, California, United States

FiveCubits, Inc. is a provider of operations support software for vehicle tracking, plant control systems, and point-of-sale solutions to producers of bulk construction materials.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-06 Icynene-Lapolla

Houston, Texas, United States

Icynene-Lapolla is a manufacturer and distributor of spray polyurethane foam insulation products. Contractors install spray foam insulation in walls, ceilings, floors, attics, and hard-to-insulate areas across a diverse set of construction end markets, including new custom residential, new production residential, commercial, remodeling, and specialty non-construction applications. Icynene-Lapolla was founded in 1986 and is based in Houston, Texas.

Sell -
SELLER

Advent Morro Equity Partners

San Juan, Puerto Rico

Investor Investor

Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Advent Morro Equity Partners is a private equity firm focused on opportunities connected to Puerto Rico. The FIrm invests in companies operating in Puerto Rico, Puerto Rican companies expanding into the US, and established US-based companies whose products or services target the US hispanic market. Advent Morro’s seeks to team with management teams looking for capital to accelerate growth organically or through acquisitions. The Firm looks to invest $5 to $10 million in companies with annual revenues between $5 and $20 million. Sectors of interest include healthcare, hospitality, telecommunications, software-development, distribution, education and medical insurance. The Firm will consider a variety of investment situations, including MBOs, corporate divestitures, turnarounds, recapitalization of family owned businesses, and industry consolidation. Advent Morro Equity Partners was formed 1989 and is based in San Juan.

DEAL STATS #
Overall 3 of 6
Sector (Beverages) 1 of 2
Type (Merger) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 3 of 4
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-25 La Familia Pawn and Jewelry

Winter Park, Florida, United States

La Familia Pawn and Jewelry is a chain of retail jewelry and pawn stores. La Familia Pawn and Jewelry was founded in 2009 and is based in Winter Park, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-14 LendingPoint

Kennesaw, Georgia, United States

LendingPoint is a provider of direct lending services online. LendingPoint offers a fairer lending environment by helping fair credit consumers unlock access to affordable loans. LendingPoint was founded in 2014 and is based in Kennesaw, Georgia.

Buy -
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