Situation
The Water Guy was founded more than 30 years ago by its shareholders and has since grown its business both organically and through acquisitions into a leading vertically integrated regional organization. The Water Guy successfully navigated shifts within both the competitive landscape of the HOD bottled water industry and the rapidly-changing regulatory environment that made it difficult for some operators to manage and grow. Despite this, Water Guy was able to defend and grow a meaningful market share within its region. After acting as the primary day-to-day operators of the business since its inception, and without a succession plan in place, the shareholders came to the conclusion that the best path forward to transition themselves toward retirement was to solicit interest from potential strategic acquirers.
Solution
Water Guy engaged Griffin to manage a competitive sale process with select strategic buyers. Despite a limited universe of potential buyers in the Company’s industry, the process produced multiple viable proposals. DS Services (“DSS”), a division of Cott Corporation (NYSE:COT), was ultimately selected as the successful bidder. The transaction closed in November 2019.
For more information on this transaction, contact Thomas A. Hill, Senior Vice President, at 610-478-2034, or C. Mitchell Smith, Vice President, at 610-478-2043.
