Crestview Partners has completed its previously announced acquisition of DS Waters of America, a provider of direct-to-consumer beverage services.
DS Waters of America is a diversified beverage company providing bottled drinking water, brewed beverages and water filtration systems to more than 1.4 million homes, offices, restaurants, food service organizations, convenience stores, and retail locations. The company’s bottled water products are sold under the brand names Alhambra, Athena, Belmont Springs, Crystal Springs, Deep Rock, Hinckley Springs, Kentwood Springs, Mount Olympus, Nursery Water, Sierra Springs, and Sparkletts. DS Waters also sells brewed coffee and tea beverages under the Standard Coffee brand and provides water filtration systems, equipment and services under the Relyant brand. The company supplies its products through 30 company-owned manufacturing sites across 40 US states and through 10 supplier-managed facilities. DS Waters of America is headquartered in Atlanta (www.water.com) (www.nurserywater.com) (www.coffeeservice.com) (www.myutapia.com).
“We are very pleased to have the opportunity to participate alongside a highly experienced management team in the growth of one of the true market leaders in the beverage services industry.” said Jeffrey Marcus, a Partner at Crestview.
Crestview Partners invests from $100 million to $250 million in companies with enterprise values up to $3 billion. Sectors of interest include media, financial services, healthcare and energy. The firm was founded in 2004 and is based in New York (www.crestview.com).
“As a result of this new partnership with Crestview, we are more confident than ever in our ability to expand our product and service offering and geographic reach while maintaining our outstanding customer service in metropolitan markets throughout the United States,” said Tom Harrington, President and Chief Executive Officer of DS Waters.
Evercore acted as financial advisor to DS Waters, and Proskauer Rose LLP was the company’s legal advisor. Barclays and Jefferies LLC acted as M&A advisors to Crestview Partners, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal advisor.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-4-13
