AquaVenture Holdings and Quench Merge
Published on by Water Network Research, Official research team of The Water Network in Business
AquaVenture Holdings™, a Leader in Water Purification Solutions, Announced That It Has Merged with Quench USA, Inc., the Largest Independent Provider of Filtered Water Coolers and Ice Dispensers in North America
Quench becomes the second operating platform of AquaVenture Holdings, joining Seven Seas Water Corporation, an international provider of water management solutions. In connection with the merger, AquaVenture Holdings secured an additional$50 millionin financing, led by Element Partners and mutual funds managed byT. Rowe Price. This incremental capital will be used to fund new acquisitions and business development. AquaVenture Holdings will be managed byDouglas Brown(AquaVenture Holdings and Seven Seas Water CEO),Tony Ibarguen(AquaVenture Holdings President and Quench CEO) andLee Muller(AquaVenture Holdings and Seven Seas Water CFO).
Tony Ibarguenadded, "Merging with AquaVenture Holdings is an important strategic milestone. Our combined scale and profitability will enhance our ability to continue growing organically and through strategic acquisitions."
About AquaVenture Holdings:
AquaVenture Holdings focuses on providing "Water-as-a-Service," generating recurring revenue from the deployment of advanced water purification and desalination technologies. AquaVenture Holdings comprises two rapidly-growing subsidiaries: Quench, a provider of filtered drinking water to 50,000 companies acrossthe United States, and Seven Seas Water, a provider of water management solutions that operates large seawater desalination and wastewater treatment plants internationally. Across its two subsidiaries, AquaVenture Holdings delivers nearly 20 million gallons of clean water each day.
About QuenchUSA:
Quench,USA, Inc. is a leading water technology company that provides businesses with high-quality filtered water and other products enabled through its production, such as ice, coffee and tea. Quench systems are rented to its customers, and purify tap water using state-of-the-art technology, eliminating the need for environmentally-wasteful and expensive water delivery. Headquartered outsidePhiladelphia, Quench serves 50,000 businesses acrossNorth America, including almost half of the Fortune 500.
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