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DLA Piper acts on water deal
European company Waterlogic has entered the Australian market by purchasing Cool Clear Water Group.
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Firms: DLA Piper (Waterlogic Plc); Minter Ellison (Cool Clear Water Group)
Area: Corporate/M&A
Value: $60 million
Key players: DLA Piper's team was led by Melbourne-based partner Dr Gerry Bean (pictured) and senior associate Joshua Heard, with support from solicitor Rebecca Zwier and colleagues in Australia and the UK. Melbourne-based DLA partner Monique Stella and solicitor Mei Mei Wong advised on the Australian aspects associated with the credit facility. Partner Ricky Casali led the transaction for Minter Ellison, with assistance from senior associate Jacqueline How and lawyer Andrew Hewson
Deal significance: Cool Clear Water Group is the leading supplier of point-of-use drinking water purification and dispensing systems in Australia. The acquisition was financed through Waterlogic's existing cash facilities and a credit facility with HSBC and Clydesdale bank.
Waterlogic is a leading designer, manufacturer, distributor and operator of mains attached point-of-use drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces.
The acquisition marks Waterlogic's entry into the Australian water cooler market and is a significant development for the company.
DLA partner Gerry Bean said: "We are delighted to have advised Waterlogic on such a transformational acquisition and we wish them every success with their expansion into a major new territory."
