The British Columbia Investment Management Corp. is acquiring a significant minority stake in Waterlogic, a company that designs, manufactures, distributes and services purified drinking water dispensers.

The investment is providing Waterlogic with capital to support growth and become a leader in bottleless workplace hydration.

“We are pleased to be working alongside a talented management team to support the long-term continued growth of the business,” said Jim Pittman, executive vice-president and global head of private equity at the BCI, in a press release. “Waterlogic is a leading company with a solid track record of success that has the potential to generate value-added returns for our pension plan and insurance fund clients.”

Read: Why are institutional investors ramping up allocations to private equity?

Waterlogic has direct presence in 17 countries and has a global distribution network that reaches more than 50 countries.

The transaction, which is expected to close in the first quarter of 2020, is subject to customary regulatory approvals. 

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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