Angel Springs acquires water cooler base of Aqua Express
Angel Springs, a UK-based water cooler service provider, has acquired the entire water cooler base of Aqua Express for an undisclosed amount.
Supported by UK-based private equity provider LDC, the transaction marks the fifth acquisition of Angel Springs in the last 18 months.
The acquisition goes in-line with Angel Springs' existing distribution center operation in East Kilbride and also gives it an established presence in the Scottish market, where it strives to expand its customer base.
Having secured over 7,500 organic customers in 2012, Angel Spirits aims to increase that number and also increase its service distribution efficiencies with the current acquisition of Aqua Express.
Angel Springs managing director John Dundon said: "Fundamentally and in spite of the difficult economic outlook, we are continuing to drive organic and acquisitive growth whilst maintaining our reputation as a premium-standard, high quality, national water cooler service provider."
LDC investment director Alistair Pendleton said: "The deal brings many strategic and operational benefits to the business, and represents an exciting growth opportunity for Angel Springs as they look to build further upon their existing presence in Scotland."
Angel Springs supplies and services over 53,000 bottled water coolers and mains-fed water coolers across the UK. It also provides and maintains nearly 2,000 bottled and mains fed water coolers throughout Scotland.