M&A Deal Summary

Brentwood Associates Acquires Watermill Express

On May 3, 2021, private equity firm Brentwood Associates acquired beverage company Watermill Express

Acquisition Highlights
  • This is Brentwood Associates’ 1st transaction in the Beverages sector.
  • This is Brentwood Associates’ 41st transaction in the United States.
  • This is Brentwood Associates’ 3rd transaction in Colorado.

M&A Deal Summary
Date 2021-05-03
Target Watermill Express
Sector Beverages
Buyer(s) Brentwood Associates
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) North Point Advisors LLC (Financial)
Holland & Hart (Legal)

Target

Watermill Express

Brighton, Colorado, United States
Watermill Express provides affordable, sustainable, safe drinking water and ice in a convenient drive-up format. The Company operates and franchises nearly 1,300 stations across 9 states, predominantly across the West Coast and Sunbelt regions. Watermill Express was founded in 1984 and is based in Brighton, Colorado.

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Buyer(S) 1

Buyer

Brentwood Associates

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1972
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brentwood Associates is a private equity firm focused on long-term investments in middle-market growth companies. Brentwood typically targets investments in consumer-related businesses. Specific areas of interest include action sports/outdoor lifestyle products, business services, consumer products/services, direct marketing, distribution, education, health/wellness, marketing services, specialty media, specialty retail, and sporting goods. Brentwood's preferred equity investment size is $50 to $200 million. Brentwood Associates was formed in 1972 and is based in Los Angeles.

DEAL STATS #
Overall 44 of 48
Sector (Beverages) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 14 of 15
State (Colorado) 3 of 3
Country (United States) 41 of 45
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-10 Credentials Solutions

Deerfield, Illinois, United States

Credentials Solutions LLC is a technology-intensive service company that provides comprehensive business process solutions to more than 700 higher education institutions and municipalities across the United States. The company develops innovative verification and transcript solutions to fit the unique needs of Higher Education. Credentials Solutions was formed in 1997 and is based in Deerfield, Illinois.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 L-Nutra

Los Angeles, California, United States

L-Nutra engages in the discovery, design and commercialization of nutrition programs and therapeutics that enhance human healthspan and longevity. L-Nutra aims to harness the latest research in healthy aging and food as medicine. L-Nutra’s signature products include ProLon, the first and only Fasting Mimicking Diet, which mimics fasting to enhance the body’s natural ability to rejuvenate itself and Fast Bar®, a premium nutrition bar formulated to provide nourishment while keeping the body in a fasting mode. L-Nutra was founded in 2009 and is based in Los Angeles, California.

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