AquaVenture Holdings-owned Quench has secured a deal to buy US water cooler provider Pure Health Solutions for approximately $57.6 million.
Pure Health Solutions, which uses Pure Water Technology as its direct sales brand name, is headquartered in Lincolnshire, Illinois, and provides filtered water coolers through two sales channels.
In its direct channel, the company rents and services approximately 13,000 owned units to commercial end users throughout the US.
Meanwhile, through its indirect channel, the firm distributes and resells water coolers and related filters and parts to a network of dealers with over 90 locations across the US.
Pure Health Solutions (PHSI) also develops and manufactures its own brand of point-of-use systems at a facility in South Korea.
Tony Ibarguen, president of AquaVenture Holdings and CEO of Quench, said: “We are thrilled to announce the acquisition of PHSI. This transaction significantly increases our customer density and expands our presence in seven major US markets, growing Quench’s customer base to more than 50,000 customers and our rental installed base to more than 140,000 company-owned units.
“PHSI also extends our participation in the water filtration and related services industry by materially expanding our dealer network and extending our investment in product development and manufacturing. This is Quench’s ninth acquisition of 2018 and represents AquaVenture’s second-largest acquisition since our IPO in late 2016.”
The announcement comes weeks after Quench revealed it had secured a deal to buy US-based water cooler manufacturer Bluline, a producer of a range of bottle-less, point-of-use water coolers which are distributed in the US.
Quench provides filtered water systems, including bottle-less water coolers, ice machines, sparkling water dispensers and coffee brewers, to customers across US and Canada.
The business’s point-of-use systems purify a building’s existing water supply to provide filtered water to a broad mix of customers, in sectors such as education, healthcare, manufacturing, retail and hospitality.
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