Acquisition includes WaterGroup Inc. as well as WaterGroup Companies Inc. and Petwa Ltd.
Novo Water Group Inc. announced the acquisition of WaterGroup Companies from Culligan Intl. Co. Inc. The acquisition includes the U.S. operating company WaterGroup Inc., as well as Canadian entities WaterGroup Companies Inc. and Petwa Ltd. The transaction meets several key strategic objectives for both Culligan and Novo Water Group.
For Culligan, divesting of WaterGroup removes the channel conflict with its core Culligan Franchise Dealer business, allowing for better focus. “WaterGroup was not a great fit with our global portfolio of businesses and did not align well with our primary strategy of growing our core Culligan Franchise Dealer businesses,” said Judd Larned, vice president of strategy for Culligan Intl. Co.
For Novo, the acquisition of WaterGroup will allow the company to combine the expertise of both organizations while becoming a single source for industry technologies. “The transaction will allow us to provide a broader range of products and brands demanded by the market,” said Don Fettes president and CEO of Novo Water Group Inc. and one of WaterGroup’s original cofounders. “Our plan to grow the business through strategic acquisitions and organic growth will allow us to offer more choice and value to our customers. The businesses are very complimentary. Our combined strengths will definitely add up to be much more than the sum of the parts. For our customers, we expect it to be business as usual. Customers will continue to be served under the current trade names and supplied with the same products and brands. Combining the experience and depth of both organizations will allow us to provide a higher level of customer service and on-time delivery from more locations as we implement the best practices of both organizations.”