Member Article

Manchester-based investment bank advise Luxembourg firm on £122.6 million water deal

Manchester-based international investment bank Altium has advised Luxembourg-based Castik Capital on its £122.6 million recommended cash acquisition for the entire share capital of Waterlogic, a global distributor of drinking water purification and dispensing systems.

Altium acted as exclusive corporate finance advisor to Castik Capital on the transaction.

Phil Adams led the Altium team in Manchester comprising Managing Director Adrian Reed, Director Paul Lines, Analyst Tom Battersby and Richard Clark, Managing Director of Debt Advisory.

The Waterlogic acquisition was made through Poseidon Bidco, a newly formed entity incorporated by Castik-managed EPIC Funds, and was accepted by 99.9% of the shares eligible to vote.

Castik Capital is a Luxembourg-based private equity firm which specialises in acquiring significant ownership positions in European private and public companies.

Founded in 2014, the company’s partners have over 100 years of experience and have invested over €2bn of equity capital in Europe and are targeting €1bn for their current fund.

CEO of Altium, Phil Adams, commented: “Castik’s strategy to create a leading global water cooler brand is ambitious and innovative, and the firm’s latest acquisition is a significant step to achieving this goal by tapping into a rapidly growing market.

“As with so many of our clients, the long-term relationship we have enables us to provide the highest quality advice, and we look forward to working further with Castik as it progresses its business strategy.”

This was posted in Bdaily's Members' News section by Sophia Taha .