Crestview Partners has closed its buy of DS Waters of America. Financial terms weren’t announced. Atlanta-based DS Waters provides direct-to-consumer beverage services.
ATLANTA, Sept. 3, 2013 /PRNewswire/ — DS Waters of America, Inc. (“DS Waters” or “the Company”), a leading provider of direct-to-consumer beverage services, and Crestview Partners (“Crestview”), a New York-based private equity firm, today announced the closing of the acquisition of DS Waters by funds advised by Crestview. The Company will maintain its headquarters in Atlanta, Georgia.
Tom Harrington, President and Chief Executive Officer of DS Waters, said, “As a result of this new partnership with Crestview, we are more confident than ever in our ability to expand our product and service offering and geographic reach while maintaining our outstanding customer service in metropolitan markets throughout the United States.”
Jeffrey Marcus, a Partner at Crestview, said, “We are very pleased to have the opportunity to participate alongside a highly experienced management team in the growth of one of the true market leaders in the beverage services industry.”
Created in 2003, DS Waters is a U.S.-based bottled water, water filtration and coffee service company, with a long history of great American brands. The transaction will enable DS Waters to focus on the Company’s bright future as a market leader in the direct-to-consumer beverage services market. The partnership with Crestview positions DS Waters to continue its growth both organically and through acquisitions across the HOD delivery, office coffee service, and water filtration industries. Post-transaction, the Company will continue to build its national distribution network through expansion of its sales and marketing efforts and distribution of new products and services.
DS Waters products are sold under the brand names Alhambra®, Athena®, Belmont Springs®, Crystal Springs®, Deep Rock®, Hinckley Springs®, Kentwood Springs®, Mount Olympus®, Nursery® Water, Sierra Springs®, and Sparkletts®. Several of our bottled water brands have been satisfying consumers for more than 100 years. DS Waters offers brewed coffee and tea beverages under the Standard Coffee® brand, as well as office break room supplies. DS Waters provides water filtration systems, equipment and services under the Relyant® brand.
Evercore acted as financial advisor to DS Waters, and Proskauer Rose LLP was the Company’s legal advisor.
Barclays and Jefferies LLC acted as M&A advisors to Crestview Partners, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal advisor.
About DS Waters
DS Waters of America, Inc. is a diversified beverage company providing bottled drinking water, water filtration and coffee services and products to homes and offices across the U.S. Headquartered in Atlanta, Georgia, the Company serves over one and a half million homes, offices, restaurants, food service organizations, convenience stores and retail locations. DS Waters supports the communities it serves and provides safe drinking water during emergencies and natural disasters. Visit water.com, athenawater.com, nurserywater.com, standardcoffee.com and myutapia.com for more information.
About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm based in New York with approximately $4 billion of capital under management. The firm is led by former partners and leaders in the private equity business and senior management of Goldman Sachs and Morgan Stanley. For more information, visit www.crestview.com.