Angel Springs supplies and services more than 60,000 bottled water coolers and mains-fed water coolers.
The business operates from a UK wide network of depots strategically located ensuring national coverage across the UK. It has a diverse customer base largely comprised of multi-site blue chip organisations.
After taking a significant majority stake in Angel Springs in 2011, LDC’s investment strategy was to support the business’ existing management team in driving organic growth alongside an ambitious buy and build growth strategy.
This was successfully executed and during the investment period, the business secured significant new contracts with both SMEs and multi-site blue chip organisations, whilst completing nine strategic acquisitions, resulting in increased customer density and service distribution efficiencies in key geographic regions right across the UK.
In 2012, LDC also supported Angel Springs’ head office relocation to a brand new state-of-the-art 10,000 square foot building in Wolverhampton. This expansion and investment in core infrastructure has enabled the business to further increase and effectively handle customer orders, whilst significantly improving its commercial facilities.
Angel Springs has achieve substantial sales and profit growth since the original investment, with turnover rising from circa £14million (2011) to circa £20million (2014). Employee numbers have also risen considerably during the investment period, with the business now employing more than 200 people (2014), up from 131 people at the beginning of 2011.
In 2014, LDC completed the sale of its stake in the business, in a multi-million pound deal with Germany-based private equity provider Castik Capital. The transaction provides an excellent return for LDC, delivering a money multiple of 3x its original investment in just over three years.