Angel Springs Acquired by Castik Capital

BWCA Member, Angel Springs has been acquired by Castik Capital, a European equity investment firm, through Hydrus Bidco Ltd., a company ultimately owned by the EPIC Funds.

Commenting on the deal, MD John Dundon, said: “Castik’s investment reflects the confidence we both have in Angel’s future potential. Their support will allow us to strengthen our market position in the UK by continuing to give excellent service to existing customers and by making complementary acquisitions.”

Angel Springs has completed nine acquisitions over the last three years and the new investment will help to support its future growth.

As part of the deal, Castik Capital have also acquired the bottling plant Fillongley Spring Water.

Headquartered in Wolverhampton, Angel Springs provides both bottled and mains fed water coolers to businesses and organisations throughout the UK and currently services more than 60,000 water coolers. The business has a network of ten regional service and distribution centres, enabling it to deliver on a national basis.

“The acquisition of Angel Springs is a material building block in our strategy to form a globally leading water cooler company,” said Michael Phillips, Partner of Castik Capital. “Angel Springs has exhibited impressive growth over recent years – both organically and through acquisitions – and has a highly experienced management team, headed by CEO John Dundon.”

Castik Capital believes that a buy-and-build strategy coupled with robust organic growth can create significant value by forming a globally leading water cooler company in the coming years. Castik has an investment horizon of up to ten years, longer than most other private equity funds. This enables Castik to focus resources on its portfolio companies and ensure sustainable, long-term value creation.

The announcement of the Angel Springs acquisition follows Castik Capital’s recent launch of the recommended cash acquisition of Waterlogic Plc by Poseidon Bidco Ltd., a newly incorporated company owned by the EPIC Funds, which are managed by Castik Capital.  Waterlogic Plc is a global distributor of POU drinking water purification and dispensing systems.

More information can be found at

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