PE-backed Culligan completes AquaVenture buyout

Culligan, which is backed by Advent International, has acquired AquaVenture, a provider of bottle-free, filtered drinking water systems and services.

Culligan, which is backed by Advent International, has acquired AquaVenture, a provider of bottle-free, filtered drinking water systems and services. Also, Culligan has sold Seven Seas Water, an operating segment of AquaVenture to Morgan Stanley Infrastructure Partners. Culligan will retain the Quench operating segment of AquaVenture. No financial terms were disclosed.

PRESS RELEASE

ROSEMONT, Ill.–(BUSINESS WIRE)–Culligan, the innovative brand in consumer-focused and sustainable water solutions and services, today announced that it has completed its previously announced acquisition of AquaVenture Holdings Limited (“AquaVenture”). Additionally, Culligan announced that it has divested Seven Seas Water, an operating segment of AquaVenture, to Morgan Stanley Infrastructure Partners. Culligan will retain the Quench operating segment of AquaVenture, which is a leading provider of bottle-free, filtered drinking water systems and services, joining Culligan’s leading consumer water service and solutions platform.

“We are excited to announce that the Quench team, and their leading platform in the U.S. Office Bottle Free Cooler market, is officially part of the Culligan family,” said Scott Clawson, CEO of Culligan. “The addition of Quench enhances our position as the global leader in the consumer water market and fits perfectly with our strategy of delivering clean, safe, soft and great tasting water to consumers around the world, whether in the home, in the office, or on the go.”

About Culligan
Founded by Emmett Culligan in 1936, Culligan is a world leader in delivering superior water solutions that will make a real difference in improving the health and wellness of consumers. The company offers some of the most technologically advanced, state-of-the-art water filtration and treatment products. These products include water softeners, drinking water systems, whole-house systems and solutions for businesses. Culligan’s network of franchise dealers is the largest in the world, with over 900 dealers in 90 countries. Many Culligan dealers have valuable equity in their local communities as multigenerational family owners of their franchises. For more information visit: www.culligan.com.

About Quench
Quench provides water-as-a-service solutions through water filtration systems to customers and independent dealers across North America. Quench’s bottle-free, point-of-use (POU) systems, purify a user’s existing water supply to provide reliable, convenient, and sustainable mineral-infused quenchWATER+ drinking water. Quench provides a comprehensive suite of products including water coolers, ice machines, sparkling water dispensers and coffee machines to a broad mix of workplaces, including more than half of the Fortune 500. Headquartered in King of Prussia, Pa., Quench has sales and service operations across North America to serve our 60,000+ customers and our network of over 250 independent dealers selling Quench products under the brand names Pure Water Technology, Wellsys, and Bluline. For more information, please visit: https://quenchwater.com.

About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of December 31, 2019, had $56.8 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit: www.adventinternational.com.