In a deal worth AUD60m (£36m), DLA Piper has advised Waterlogic on its entry into the Australian water cooler market through the acquisition of all of the issued share capital of Cool Clear Water Group.
Cool Clear Water supplies point-of-use drinking water purification and dispensing systems in Australia. AIM-listed Waterlogic is a designer, manufacturer, distributor and operator of mains-attached point-of-use drinking water purification and dispensing systems, designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces.
The acquisition was financed through Waterlogic’s existing cash facilities and a credit facility with HSBC and Clydesdale Bank.
DLA Piper’s team was led by Melbourne-based partner Dr Gerry Bean and senior associate Joshua Heard, with support from solicitor Rebecca Zwier and colleagues in Australia and the UK. Melbourne-based partner Monique Stella and solicitor Mei Mei Wong advised on the Australian aspects associated with the credit facility.