Leading water cooler service provider Angel Springs acquires Water at Work

December 6, 2011

Angel Springs, the UK’s leading water cooler service provider, has completed its takeover of the water cooler unit of Water at Work Ltd. No details of the arrangement – including the price paid  – have been disclosed. The agreement was apparently drawn up by LDC, a leading private equity firm, who invested in Angel Springs last summer.

The deal represents the third acquisition this year to be completed by Angel Springs. In August, the company acquired a 50 per cent share in the Fillongley Spring Water bottling plant - five months after taking control of Aquae Sulis.

Established in 2005, the Hertfordshire-based Water at Work is a family-owned company whose customers are mostly located in London and the northern Home Counties. The acquisition of Water at Work means that Angel Springs will be able to increase its customer base and expand its delivery service capacity.

Angel Springs is reported to have approximately 30,000 customers across the UK, delivering more than 45,000 bottled water coolers and mains-fed water coolers each year. Since its establishment in 2003, the company has more than doubled in size as a result of acquisitions and a successful blend of organic growth and geographic expansion. Another example is the recent opening of additional depots in Kent and Dorset, servicing the company’s growing customer base in the South East and South Coast areas of England.

Angel Springs Managing Director, John Dundon commented on this achievement: “This acquisition is another great example of our ambition to continue to grow our business and to consolidate what is a fragmented UK water cooler market. Despite the difficult economic outlook, Angel Springs has continued to grow, whilst maintaining its reputation as a high quality, national service provider.”

LDC Investment Director, Andy Lyndon, agreed: “(…) We are delighted that the Angel Springs management team has already demonstrated its ability to deliver growth both organically and in terms of acquisitions through the completion of three high quality acquisitions within six months.  (…) We will continue to work closely with the team to identify further acquisition opportunities in order to maintain growth and lead the way in market consolidation.”