We look forward to a long term partnership with the innovative team at WaterStation Technology.
Seattle, WA (PRWEB) January 08, 2018
ACT Capital Advisors (ACT) is pleased to announce that is has served as the financial advisor to WaterStation Technology (WST) in its debt refinancing by KeyBank N.A. Based in Everett, Washington, WST is a provider of eco-friendly, self-serve, water vending machines. The forward-thinking technologies used in these systems produce a premium water that is more affordable than most bottled water and much better for the environment.
Founded in 2012, WST’s technology creates “virtual spring water” through a natural mineralization process. The company’s patent-pending WST-700 takes water through a six-step process that delivers highly purified, silky smooth drinking water in one, three and five-gallon increments. WST is growing rapidly as it succeeds on its mission to provide the highest quality water to communities throughout the U.S.
WST approached ACT to assist them in securing growth capital. The company was open to equity, private debt and bank debt, individually or in combination. ACT implemented its proven process for marketing the business to a wide range of lenders. During the process, ACT was able to narrow down the best products and lenders for WST. WST’s owners chose KeyBank N.A. The primary reasons for selecting KeyBank N.A. were their willingness to lend the right amount of capital, at a competitive rate, as well as being an overall good fit for the owners. By working with KeyBank N.A., WST was able to consolidate their balance sheet, lower their borrowing costs and access additional working capital all at the same time.
Bob Hild, ACT’s Chairman said, “We look forward to a long-term partnership with the innovative team at WST. We believe their business is well positioned for rapid growth. ACT is excited to help them execute on their ambitious plans and become the industry leader in this vital market.”
Ryan Wear, WST’s founder said, “The injection of additional working capital will enhance our cash flow and enable us to reinvest in the business. Specifically, we’ll now be in a position to capitalize on opportunities and bring new technological innovations to the market. With the addition of this new capital, we can accelerate WST’s growth and execute on our expansion strategy.”
Chandler Hueckel, Sr. Business Banking Relationship Manager of Business Banking led the refinancing for KeyBank N.A. from its Tacoma office.
Trevor Hill, ACT Associate, represented WST in the recapitalization.
About KeyBank – KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $136.7 billion at September 30, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
About WaterStation – Based in Everett, WA, WaterStation Technology purifies water to the highest standard and then percolates it through a series of natural minerals. Healthy, clean water is then chilled to a perfect temperature and dispensed in to a consumer provided container. WaterStation is committed to providing eco-friendly and bottle-less products to its customers. For more information on WaterStation Technology, please visit their website at: https://www.refillandrefresh.com .
About ACT - ACT Capital Advisors, LLC is a leading Mergers & Acquisitions (M&A) and Corporate Finance firm that represents lower middle-market companies ($5 million to $50 million in annual revenues) across a variety of sectors and industries, including industrial manufacturing, information technology, construction, healthcare, aerospace, consumer staple/discretionary, oil and energy, as well as outsourced services. The firm provides strategic financial advice to closely held, family-owned, as well as private equity sponsored organizations and corporate shareholders that wish to sell their company, raise growth capital, or secure commercial financing. Leveraging ACT’s deep industry-wide knowledge and strategic auction process, clients appreciate ACT’s approach, pairing the professional expertise of a national investment banking firm with the senior level attention and entrepreneurial creativity of a smaller enterprise.
For additional information, please contact:
ACT Capital Advisors
Mercer Island, WA