- TM Capital served as exclusive financial advisor to Water Co. Holding, LLC (“WaterCo”), a portfolio company of Prospect Partners and Stone Pointe, LLC, in its sale to Culligan International (“Culligan”), a portfolio company of Advent International
- Culligan is the #1 brand worldwide in water treatment solutions, and WaterCo is the top-performing water solutions platform in Culligan’s independent dealer network operating nearly 40 locations across 13 states
- WaterCo’s end-to-end suite of mission critical, route-based services includes equipment sales & installation, aftermarket service & consumables delivery; multi-year “Water-as-a-Service” solutions (rental, planned maintenance and consumables) and bottled water delivery; more than 60% of WaterCo’s revenue is generated from recession-resistant, recurring aftermarket sources
- WaterCo exhibited significant organic and M&A-driven growth, expanding its geographic footprint, market penetration and water delivery capabilities via 20+ acquisitions since 2011
- The sale of WaterCo further highlights TM’s substantial installed and branded products experience; and is the second transaction TM Capital has completed on behalf of Prospect Partners since 2017
Client Testimonial
We built WaterCo into one of the largest and fastest growing independent platforms in Culligan’s dealer ecosystem through a commitment to providing world class customer service, exceptional local market growth and completion of 20 add-on acquisitions. TM Capital was an instrumental partner for the final leg of this journey – understanding and marketing our unique value and ultimately negotiating a transaction with our franchisor that provides tremendous value to our shareholders, associates and the entire Culligan network. We look forward to our next chapter and continuing to grow and promote Culligan as the #1 brand in water treatment.”Don Fuller, President, Culligan by WaterCo
