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Private equity firm BDT Capital Partners has acquired water treatment specialist Culligan International from Advent International and Centerbridge Partners for an undisclosed sum.
Culligan is one of the world’s leading suppliers of water treatment and filtration solutions. The company is also the owner of several major water dispenser companies including Quench, Blupura and Oasis International.
According to a statement from Culligan, capital supplied by BDT following this transaction will enable the company to accelerate its consumer strategy, expand its international footprint and stimulate product development and digital growth initiatives.
Advent International has also reinvested in Culligan as part of this agreement, in order to retain a minority stake in the company.
Culligan and its subsidiaries have undertaken several major acquisitions in recent times to expand the company’s global presence and customer base. The company acquired AquaVenture Holdings for approximately $1.1 billion in 2020, through which Culligan acquired Quench – which has itself acquired seven companies so far in 2021 as part of its growth strategy.
Scott Clawson, CEO of Culligan International, said: “For more than eight decades, we’ve served as a leading provider of water treatment solutions and service – driving innovation, a better consumer experience and sustainability – while moving the market forward and transforming ourselves.
“We have the leading dealer network as well as direct service operations that touch consumers around the world. We’re grateful for the support of Advent and Centerbridge, and are excited to work with our new partners at BDT as we continue to execute on our growth plan and expand our leadership position in the consumer water market.”
Scott Hasley, managing director of BDT Capital Partners, added: “Culligan is the innovative pioneer in clean and safe water solutions that has grown to become one of the world’s most trusted brands, led by Scott Clawson and a highly-experienced management team who share our commitment to providing families and communities with healthier water while reducing plastics consumption.
“We look forward to our long-term partnership with Scott and his team, consistent with our business model of providing patient capital to closely-held businesses, while leveraging our global network of business owners and investors to support the company’s continued growth and expansion.”
© FoodBev Media Ltd 2022
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