Waterlogic has announced the acquisition of Hidrospot, one of the leading water dispenser firms in Colombia, for an undisclosed figure.
Established in 2009, Hidrospot is a leading provider of mains-fed water dispensers in the country, with approximately 5,000 drinking water dispensers in locations such as national banks, multi-national corporations, manufacturing and education establishments.
According to a statement from Waterlogic, the acquisition of Hidrospot builds on the company’s growth ambitions in Latin America, following its market entry with the acquisition of Aquafree Chile in 2019.
Jeremy Ben David, Waterlogic founder and group CEO said: “Their local market knowledge, expert team and established customer base makes Hidrospot the natural partner to support Waterlogic’s growth ambition in Colombia and across the region.
“We look forward to welcoming the Hidrospot team under the leadership of Patricia Restrepo and Juan Felipe Borrero, to continue the outstanding hard work and dedication to the hydration needs of their customers they have provided over the last 11 years.”
Patricia Restrepo, Hidrospot founding partner, and Juan Felipe Borrero, Hidrospot founding partner and general manager, added: “We are very happy to become part of this amazing team and we value the development, growth and business opportunities that Waterlogic brings.
“We look forward to introducing premium high-volume solutions for the hospitality sector as well as Covid-secure dispensers providing value-added peace of mind to our customers in Colombia.”
The purchase of Hidrospot is the most recent acquisition as part of the ‘buy and build’ strategy implemented by Waterlogic when the company was acquired by private equity firm Castik Capital in 2015.
Waterlogic has acquired businesses in the US, UK and several other markets in the last few years as part of this approach. In October, the company acquired the Tipperary Water Cooler business from C&C Group for approximately €7.4 million.
The Tipperary Water Cooler business is one of the largest water dispenser companies in the Republic of Ireland and Northern Ireland, and manages over 12,000 water dispensers throughout the island of Ireland.
© FoodBev Media Ltd 2020
World Dairy Innovation Awards – OPEN FOR EARLY BIRD ENTRIES!
The awards celebrate excellence and innovation across the global dairy industry.
Don’t miss out on having your innovations recognised on a global scale.
Early bird deadline 19 March – enter now!