Quench, an operating segment of AquaVenture Holdings Limited and a leading provider of filtered water coolers, ice machines, sparkling water dispensers and coffee brewers for businesses across the United States and Canada, has completed the acquisition of all of the issued and outstanding shares of Pure Health Solutions, Inc. (PHSI) for an aggregate cash purchase price of approximately $57.6 million, subject to adjustment as provided in the purchase agreement.
PHSI, which is headquartered in Lincolnshire, Illinois, is a leading provider of filtered water coolers and related services through two sales channels. In its direct channel, PHSI rents and services approximately 13,000 owned units to commercial end users throughout the United States.
In its indirect channel, PHSI distributes and resells water coolers and related filters and parts to a network of dealers with over 90 locations across the United States. In addition, PHSI develops and manufactures its own brand of point-of-use systems in its factory located in South Korea.