BCI to acquire stake in water dispenser manufacturer Waterlogic

British Columbia Investment Management Corporation (BCI) has agreed to acquire a significant minority stake in global designer and manufacturer of purified drinking water dispensers Waterlogic.

BCI will acquire the stake from funds managed by Castik Capital and the Waterlogic management team.

With the acquisition, Waterlogic will get further access to capital to support its growth.

Furthermore, the investment will strengthen the company’s position in the fast-growing market for workplace hydration solutions through its range of freestanding and countertop dispensers, Billi integrated dispensers and Purezza.

Waterlogic founder and group CEO Jeremy Ben-David said: “We are very excited by the many opportunities for accelerated development and growth this deal affords us, both organically and through acquisition.

“We look forward to building on our capabilities and customer base in both established and new geographic markets in pursuit of our mission to offer healthy drinking water solutions and contribute to the reduction of plastic pollution.”

The company has direct presence in 17 countries including the US, Canada, Chile, Australia and Western Europe.

Additionally, its independent global distribution network reaches more than 50 countries globally.

BCI Private Equity executive vice-president and global head Jim Pittman said: “We are pleased to be working alongside a talented management team to support the long-term continued growth of the business.

“Waterlogic is a leading company with a solid track record of success that has the potential to generate value-added returns for our pension plan and insurance fund clients.”

Waterlogic created new products focused on delivering the best-tasting water to all businesses by embracing Firewall and BioCote technologies.