M&A Deal Summary

Culligan Acquires Waterlogic

On February 11, 2022, Culligan acquired utilities company Waterlogic from BCI, NB Private Equity Partners, StepStone Private Equity and Ardian

Acquisition Highlights
  • This is Culligan’s 1st transaction in the Utilities sector.
  • This is Culligan’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2022-02-11
Target Waterlogic
Sector Utilities
Buyer(s) Culligan
Sellers(s) BCI
NB Private Equity Partners
StepStone Private Equity
Ardian
Deal Type Merger

Target

Waterlogic

High Wycombe, United Kingdom
Waterlogic is a designer, manufacturer, distributor and operator of mains attached point-of-use ("POU") drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants, and other workplaces. Waterlogic was founded in 1992 and is based in High Wycombe, United Kingdom.

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Buyer(S) 1

Buyer

Culligan

Rosemont, Illinois, United States

Category Company
Founded 1936
Sector Consumer Products
DESCRIPTION

Culligan offers water softeners, filtration systems, industrial water treatment solutions, and drinking water systems. Culligan was founded in 1936 and is based in Rosemont, Illinois.


DEAL STATS #
Overall 7 of 9
Sector: Utilities M&A 1 of 1
Type: Merger M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Oasis International

Columbus, Ohio, United States

Oasis International is a designer, manufacturer, and distributor of clean drinking water products and systems. Oasis offers bottle fillers, drinking fountains, bottle and point-of-use coolers, dehumidifiers, under-sink chillers, and filtration products to municipal and government buildings, schools and universities, hospitals, airports and other transit authorities, offices and residential homes. Oasis International was founded in 1910 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-02 Primo Water - International businesses

United States

Primo Water's International businesses is water business company.

Buy $575M

Seller(S) 4

SELLER

BCI

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 21.1B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 3 of 5
Sector: Utilities M&A 1 of 1
Type: Merger M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 2
Year: 2022 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-09 Pilot Freight Services

Glen Mills, Pennsylvania, United States

Pilot Freight Services is a transportation and logistics provider with over 75 locations throughout North America and Western Europe. The company’s freight forwarding services encompass every mode of transportation, including air, ground, and ocean, serving all corners of the globe. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, e-commerce, and home delivery solutions, product warehousing, and inventory management. Pilot Freight Services was founded in 1970 and is based in Glen Mills, Pennsylvania.

Sell $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-22 Refresco Gerber

Rotterdam, Netherlands

Refresco Gerber is a soft-drink company provides fruit juice and soft drinks for retail private labels and ‘in contract’ manufacturing for international A-brands. Refresco Gerber was founded in 1999 and is based in Rotterdam, Netherlands.

Sell -
DESCRIPTION

NB Private Equity Partners is a publicly traded asset manager focused on acquiring direct investments in privately held companies. The Firm principally targets businesses in the US and looks to invest alongside other private equity managers when considering opportunities. NB Private Equity Partners is headquartered in the UK, with an additional office in the US.


DEAL STATS #
Overall 10 of 13
Sector: Utilities M&A 1 of 1
Type: Merger M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2022 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-04 Addison Group

Chicago, Illinois, United States

Addison Group delivers the expertise and talent that companies need to achieve and sustain business growth, offering a full suite of consulting services and talent solution capabilities across multiple sectors, including information technology, finance and accounting, healthcare, human resources, administrative, and digital marketing. Addison Group was formed in 1999 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 MHS

Mount Washington, Kentucky, United States

MHS is a provider of e-commerce infrastructure, enabling systems automation for top logistics and e-commerce companies in the world. MHS services its customers and the parcel industry through best-in-class turnkey engineering design services, software, and equipment. MHS was founded in 1975 and is based in Mount Washington, Kentucky.

Sell -
DESCRIPTION

StepStone Private Equity is the private equity arm of StepStone Global, a global alternative investment and asset management firm. StepStone Private Equity manages and makes fund investments as well as co-invests in direct opportunities spanning buyout, venture, distressed, private debt, and energy. StepStone Private Equity is based in La Jolla, California.


DEAL STATS #
Overall 4 of 4
Sector: Utilities M&A 1 of 1
Type: Merger M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Strata Fund Solutions

Salt Lake City, Utah, United States

Strata Fund Solutions is a full-service administration company providing high-quality administration and consulting services to the alternative investments industry. Strata Fund's focus is on unparalleled service to hedge funds, private equity funds, funds of funds, and managed accounts. Strata Fund Solutions was founded in 2008 and is based in Salt Lake City, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-10 a&o hostel

Berlin, Germany

a&o hostel is the largest fully integrated, privately-owned budget hotel and hostel platform in Europe. a&o hostel was founded in 2000 and is based in Berlin, Germany.

Buy -
SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 210 of 247
Sector: Utilities M&A 4 of 4
Type: Merger M&A Deals 7 of 8
Country: United Kingdom M&A 14 of 16
Year: 2022 M&A 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-11 ProduceShop

Paradiso, Switzerland

ProduceShop is a technological E-Commerce, specializing in the production and sale of indoor and outdoor furniture in Europe. It preselects the best products for value for money, making it easier for the customer to purchase furniture and garden items, accessories, lighting products, swimming pools, toys for children, items for bathing resorts, and much more. ProduceShop was founded in 2015 and is based in Paradiso, Switzerland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 Alixio

Paris, France

Alixio is an advisory and operational services for transformations with high human stakes. Its offer, which is based on a unique model combining consulting and services, covers five areas of expertise: restructuring and social strategy, HR performance and skills development, training, change management, and health at work and quality of working life. Alixio was founded in 2010 and is based in Paris, France.

Buy -