Mains-fed cooler manufacturer Waterlogic has announced the acquisition of Danish water dispenser company Aqua Line.
Aqua Line specialises in production of mains-fed water coolers and its portfolio includes a range of instant boiling taps.
The acquisition will further strengthen Waterlogic’s market presence in Denmark, adding over 4,300 new water coolers to the Danish operation and in reinforcing Waterlogic’s existing position in the Copenhagen area, it said.
Aqua Line will be integrated in to Waterlogic Denmark over time, and existing customers of Aqua Line will be given the opportunity to upgrade to high-quality Waterlogic mains-fed water dispensers with Firewall UV purification technology.
Erik Gulbrandsen, managing director of Waterlogic Denmark, said: “The acquisition of Aqua Line cements Waterlogic as a clear leader in the point-of-use water dispensing industry in Denmark, and strengthens our position in the important Copenhagen region.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. The acquisition of Aqua Line is the seventh manifestation of the company’s buy-and-build strategy, following the recent acquisition of Clear Water Group in Norway, and substantial acquisitions in the UK and Australia.
Castik Capital believes that the buy-and-build strategy, in the context of a fragmented market and coupled with tenacious organic growth in an industry characterised by attractive growth and recurring revenues, can create “significant value”.
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