Quantum National Holdings (QNH), a US-based holding company, has merged its water companies, Watermatic and Zeen Water, as well as its holdings in CoolerCast, with water filtration and purification specialist AquaTal Group.
The merger combines QNH's funding expertise and familiarity with the US market with AquaTal's 50-plus years of global industry experience, patented filtration technologies and China-based manufacturing capabilities.
In the new joint venture agreement, QNH's select companies and holdings are merging with AquaTal assets to form a holding company that will own all global subsidiaries.
AquaTal chairman Lior Shafir will continue to serve in his present role. Sam Chanin, president of Watermatic and QNH, will be appointed as group president, and AquaTal founder Eli Shafir will manage the global R&D division and the main business unit in Israel.
AquaTal's chairman Lior Shafir, said: "The merged company has unique patented technologies that enable us to control and own the entire channel, including research and development, manufacturing, marketing, distribution, financing and service delivery worldwide."
Source: Quantum Holdings