Brentwood Associates has successfully closed an oversubscribed continuation fund to support Watermill Express's growth, reinforcing its commitment to affordable and sustainable water solutions.

Information on the Target

Watermill Express, LLC, founded in 1984 and headquartered in Brighton, Colorado, is a leading provider of affordable and safe drinking water and ice through convenient drive-up, self-service stations. The Company operates nearly 1,300 stations across eight states, predominantly located in the West Coast and Sunbelt regions. Over its 40-year history, Watermill has provided safe drinking water and ice to over 10 million people, significantly reducing plastic waste by preventing over 15 billion single-use water bottles from entering landfills.

Under the stewardship of Brentwood Associates, Watermill has successfully tripled its adjusted EBITDA by strategically opening new stations, upgrading existing ones to a new water-and-ice prototype, and acquiring its remaining franchisees. The Company's growth trajectory remains robust, with substantial opportunities for organic expansion, enhancements to current offerings, and potential strategic acquisitions to solidify its presence in the drinking water and ice market.

Industry Overview in the Target's Specific Country

The market for drinking water and ice services in the United States has seen significant growth driven by increasing consumer awareness of health, sustainability, and the environmenta