Castik-backed Waterlogic to acquire Billi

The pairing is expected to bolster Waterlogic's growth in new and existing markets. The deal is expected to complete at the end of March 2018.

Castik acquired Waterlogic, a listed UK-based provider of drinking water purification and dispensing systems, in a £122.6m take-private in 2014.

Capital for the transaction was drawn from Epic, a €1bn-target fund that held its first close on €625m in June 2014, with the acquisition taking place via the Poseidon newco.

A £113m debt facility was structured to support the 2014 deal, combining acquisition leverage and capital aimed at underpinning the group's future acquisition programme. The facility was arranged by GE Capital, HSBC, ING, Santander and Societe Generale.

Company
Billi was established in 1989 and is headquartered in Thomastown, Australia. The company has developed an under-the-sink boiling, chilled and sparkling filtered drinking water system.

People
Billi – Dan Lindsay (managing director).
Waterlogic – Jeremy Ben-David (group CEO); Carl Crowley (CEO for Australasia).

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