Waterlogic, the dressmaker, producer, distributor and repair supplier of purified consuming water dispensers, has introduced the remaining of the purchase of an important minority stake within the corporate through 4 robust institutional buyers – BCI, Neuberger Berman, StepStone, and Skandia.
Following January’s announcement of British Columbia Investment Management Corporation (BCI) coming into into an settlement to procure an important minority stake in Waterlogic from Funds controlled through Castik Capital and the Waterlogic control workforce, Waterlogic and Castik Capital have finished the transaction and come with 3 further companions.
BCI, with C$153.4 billion in belongings underneath control (as of March 31, 2019), is a number one supplier of funding control products and services to British Columbia’s public sector and considered one of Canada’s biggest asset managers. Joining BCI as minority shareholders in Waterlogic are:
- Neuberger Berman, a non-public, unbiased, employee-owned funding control company that manages equities, mounted source of revenue and personal fairness portfolios for international institutional buyers, advisors and high-net-worth people;
- StepStone, a world personal markets company offering customised funding and advisory answers to one of the crucial maximum subtle buyers on the planet; and
- Skandia, a mutual lifestyles insurance coverage corporate with SEK 692 billion underneath control as of 31 December 2019, supplies pension, banking and insurance coverage products and services to the inhabitants of Sweden.
Jeremy Ben-David, founder and workforce leader government of Waterlogic, stated: “This is a very pleasing result and a testament to Waterlogic’s businesses resilience, especially considering the unprecedented economic downturn and turbulent times we currently find ourselves in. The acquisition provides further access to capital in support of Waterlogic’s growth ambition to become the global leader in the fast-growing market for bottle-less workplace hydration. We look forward to continuing our journey with Castik Capital and the new shareholders in this next exciting phase of our growth.”