Castik Capital, a European private equity investment firm, has closed a new single asset fund, EPIC I-b, which will acquire a controlling stake in Waterlogic, a global provider of purified drinking water dispensers, at its hard cap of EUR700 million.

The Fund will provide Waterlogic with an extended investment horizon, additional capital to execute its buy & build strategy, and the resources to support Waterlogic’s global growth ambitions.

Since EPIC I Fund’s initial investment in Waterlogic in January 2015, Waterlogic’s business has increased fivefold, driven by favourable underlying market and sustainability trends in a growing and under-penetrated B2B water market and a deep pipeline of buy and build opportunities globally. Waterlogic has grown to become a leading global provider of purified drinking water dispensers, with revenues of cUSD400 million and EBITDA in excess of USD150 million.

Read more at Private Equity Wire