Investment Summary

Castanea Partners and First Bev Invest In Essentia Water

On September 2, 2014, private equity firm Castanea Partners and growth capital firm First Bev invested in beverage company Essentia Water

Investment Highlights
  • This is Castanea Partners’ 2nd and First Bev’s 5th transaction in the Beverages sector.
  • This is Castanea Partners’ 19th and First Bev’s 5th transaction in the United States.
  • This is Castanea Partners’ 1st and First Bev’s 1st transaction in Washington.
Investment Fate
  • Essentia Water was sold to a strategic buyer in 2021 for 192M USD.

Investment Summary

Date 2014-09-02
Target Essentia Water
Sector Beverages
Investor(s) Castanea Partners
First Bev
Deal Type Growth Capital

Target

Essentia Water

Bothell, Washington, United States
Essentia Water is a provider of enhanced, alkaline water. Essentia uses a proprietary process that results in electrolyte-enhanced water with an alkaline 9.5 pH. Essentia hydrates restore and balances to promote optimal health. Led by founder Ken Uptain, the Company has grown rapidly in recent years, expanding distribution across North America. Essentia Water was founded in 1998 and is based in Bothell, Washington.

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Investor(S) 2

Investor

Castanea Partners

Newton, Massachusetts, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 775M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Castanea Partners is a private equity firm that targets investments in established, small to mid-sized companies valued up to $250 million. The Firm looks for businesses with strong management and significant competitive advantages. Sectors of interest include publishing, information services, education/training, consumer brands, specialty retail, and marketing services. Castanea prefers control investment situations and looks to commit between $15 and $150 million per transaction. Castanea Partners was formed in 2001 and is based in Newton, Massachusetts.


DEAL STATS #
Overall 19 of 30
Sector: Beverages M&A 2 of 4
Type: Growth Capital M&A Deals 7 of 16
State: Washington M&A 1 of 1
Country: United States M&A 19 of 29
Year: 2014 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-02 Aurora Brands

United States

Aurora Brands operates as a holding company and through its subsidiaries, designs, and crafts luxury home furnishings, collectibles, and personal accessories. Aurora Brands was founded in 2011 and is based in the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-10 4moms

Pittsburgh, Pennsylvania, United States

4moms develops, manufactures, and distributes juvenile products under the 4moms brand. 4moms was founded in 2005 and is based in Pittsburgh, Pennsylvania.

Buy -
DESCRIPTION

First Bev is a private investment firm focused on the beverage industry. First Bev looks to invest in emerging beverage companies throughout the US. The Firm pursues companies that can benefit from value-added services including support with distribution, supply chain, strategic planning, marketing, operations, finance, board development and human resources. Target companies typically have $1 to $15 million in revenue. First Bev was formed in 2005 and is based in Los Angeles, California.


DEAL STATS #
Overall 6 of 13
Sector: Beverages M&A 5 of 11
Type: Growth Capital M&A Deals 3 of 8
State: Washington M&A 1 of 1
Country: United States M&A 5 of 12
Year: 2014 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-07 Activate Drinks

Montreal, Quebec, Canada

Activate Drinks is a producer of performance beverage and bottled water company. Activate was founded in 2007 and is based in Montreal, Quebec.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-29 Drizly

Boston, Massachusetts, United States

Drizly is a technology company powering shopping experience for beer, wine, and liquor. Drizly was founded in 2012 and is based in Boston, Massachusetts.

Buy -