King of Prussia, PA (Oct 1, 2019) – Quench, an operating segment of AquaVenture Holdings Limited (NYSE: WAAS) and a leading provider of filtered water-as-a-service solutions for businesses across the United States and Canada, announced today that it has acquired substantially all of the assets of Mirex AquaPure Solutions, L.P. (“Mirex”) and Flowline Canada, Inc. (“Flowline”).
Mirex is a point-of-use (POU) water filtration company based in Houston, Texas, a top-5 US metro area. Mirex has been in business for nearly 20 years and built a loyal commercial customer base. Notably, Mirex was an early and rapid adopter of specialty POU products, such as ice dispensers, which enjoy attractive rental rates. Flowline is a point-of-use water filtration company based in Edmonton, Canada, a top-10 Canadian market. In aggregate, these acquisitions add approximately 1,400 customers and 3,000 rental units.
Todd Peterson, COO of Quench, said: “We are excited to announce the acquisitions of Mirex and Flowline. Mirex increases our customer penetration in one of the most attractive US markets, while Flowline extends our geographic footprint to an important metro area in Canada. We continue to execute our growth strategy by acquiring point-of-use water filtration companies in strategic markets that increase our customer density, expand our service coverage, and strengthen our unit economics. In addition, Flowline was one of our independent dealers, which demonstrates our continued success in providing attractive exit opportunities to our extensive dealer network.”
AquaVenture Holdings (NYSE: WAAS) 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 composed of two operating platforms: Quench, a leading provider of filtered water systems and related services with over 150,000 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. For more information, please visit https://aquaventure.com.
Quench offers WAAS solutions by providing filtered water systems with quenchWATER+ mineral-infused water to customers and independent dealers across North America. Our point-of-use (POU) systems, which are integrated into bottleless water coolers, ice machines, sparkling water dispensers and coffee machines, purify a user’s existing water supply to provide reliable, convenient, and sustainable drinking water to a broad mix of businesses, including more than half of the Fortune 500. Headquartered in King of Prussia, PA, Quench has sales and service operations across North America to serve our 50,000+ customers, and a network of over 250 independent dealers selling Quench products under the brand names Pure Water Technology, Wellsys and Bluline. Quench is an AquaVenture Holdings business. For more information, please visit https://quenchwater.com.