Quench Announces Acquisitions of Pure Planet Water, Inc. and Jonli Water Services, Inc.

Date : 12/17/2019 @ 1:00PM
Source : Business Wire
Stock : AquaVenture Holdings Limited (WAAS)
Quote : 27.03  0.0 (0.00%) @ 1:00AM
AquaVenture share price Chart

Quench Announces Acquisitions of Pure Planet Water, Inc. and Jonli Water Services, Inc.

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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 Pure Planet Water, Inc. (“Pure Planet”) and Jonli Water Services, Inc. (“Jonli”).

Pure Planet, which was one of Quench’s independent Wellsys dealers prior to the acquisition, is a point-of-use (POU) water filtration company based in Palm Desert, California. Pure Planet’s customer base and assets were integrated immediately upon acquisition. Jonli is a POU water filtration service company based in Montreal, Quebec, Canada, and it extends Quench Canada’s service capabilities into this top-5 Canadian market. In aggregate, these acquisitions add approximately 1,300 customers and 2,200 units, including both company-owned rental and customer-owned service units.

Todd Peterson, COO of Quench, said: “We are excited to announce the acquisitions of Pure Planet and Jonli, which extend our presence into new markets in both the US and Canada. We are pleased with the continued execution of our growth strategy of acquiring point-of-use water filtration companies in strategic markets that increase our customer density, expand our service coverage, and strengthen our unit economics.”

About AquaVenture

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 155,000 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.

About Quench

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 55,000+ 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.

investors@aquaventure.com Investor Hotline: 855-278-WAAS (9227)

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