The M&A team advised AquaVenture Holdings Limited (NYSE: WAAS) on the completion of its acquisition by Culligan for $27.10 per share in an all-cash transaction. AquaVenture joins Culligan’s leading consumer water service and solutions platform as a privately held company. The transaction was previously announced in December 2019.
AquaVenture is a multinational provider of WAAS solutions that provide customers a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer. AquaVenture is comprised of two operating platforms: Quench, a leading provider of filtered water systems and related services with approximately 160,000 company-owned units installed at institutional and commercial customer locations across the U.S. and Canada; and Seven Seas Water, a multinational provider of desalination and wastewater treatment solutions, providing more than 8.5 billion gallons of potable, high purity industrial grade and ultra-pure water per year to governmental, municipal, industrial and hospitality customers.
The Goodwin team was led by partners Mark Burnett, James Matarese and Blake Liggio and associates Caitlin Tompkins, Kristen Armstrong and Kvehl McDermott and included Milena Tantcheva, Mohammed Alvi, John Ilardo, Ashley Carlisle and Wiechi Liu (Debt), Dan Karelitz and Benjamin Gossels (Tax), Jacqueline Klosek (Intellectual Property/Privacy), Sarah Bock, James Devendorf and Tony Guan (ERISA), Robert Hale and Christina Bitter (Employment), Jennifer Burns Luz (Litigation), Richard Matheny (CFIUS), Nathan Brodeur (Environmental), Cecilia Lockner (Risk/Insurance), Paul Jin, Kara Kuritz and Matthew Wheatley (Antitrust) and Andre Garron and Jessica Craig (Corporate).
For additional details on the closing, please read the press release.