AUC Acquisition Holdings
10-K - Mar 11, 2019
On November 1, 2018, AquaVenture Holdings Inc., a wholly owned subsidiary of AquaVenture, acquired all of the issued and outstanding membership interests of AUC Acquisition Holdings (“AUC”), a prov...
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
AquaVenture Holdings Ltd
WAASDelistedCIK 1422841 · Environmental Services Adjacency
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, WAAS filings, SEC EDGAR
N/A
Market cap ($MM)
N/A
Enterprise value ($MM)
N/A
Revenue · LTM ($MM)
N/A
EBITDA · LTM ($MM)
N/A
EBITDA margin
N/A
EV / revenue
N/A
EV / EBITDA
N/A
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01WAAS is a scaled public consolidator in Adjacency, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is RBA, KEX, DCI, GRC, CHE, AQN.
Balance sheet & capacity
N/A
N/A
Cash & equiv. ($MM)
N/A
Total debt ($MM)
N/A
Net debt ($MM)
N/A
Net debt / EBITDA
Valuation
Where it trades against its peer set
WAAS versus the scaled public Environmental Services Adjacency comparables.
Indexed share-price performance
WAAS versus available Environmental Services Adjacency peers and SPY.
+27%
WAAS
N/A
Peer med.
+21%
SPY
Indexed to 100 from Oct 31, 2016 through Mar 27, 2020. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| AquaVenture Holdings Ltd | WAAS | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
WAAS's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
11
Active years
7
Named deals
9
Avg / active year
1.6
Acq. cash outflow ($MM)
N/A
Banker read
- 01WAAS reads as a programmatic acquirer: 11 disclosed acquisitions across 7 active years, or 1.6 per active year. The chart shows activity in 5 of the last 5 visible years.
- 02In the last three years, the file shows 6 acquisitions versus 3 in the prior three; recent activity is running above the prior three-year period.
- 03Spend is not clean enough for the visual yet, so the banker read should lean on cadence, named deals, and management language.
Annual acquisition count
count named deal
WAAS cadence shown by annual acquisition count because verified spend is N/A.
Program diagnostics
Recent / prior
6 / 3
Last three years is up 100% vs prior three.
Peak count year
FY18
4 disclosed acquisitions in the peak visible year.
Spend check
N/A
Disclosed spend is not clean enough for the chart.
Named evidence
9 rows
82% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Nov 1, 2018 | AUC Acquisition Holdings | Adjacency and edge-case industrials | $131 | On November 1, 2018, AquaVenture Holdings Inc., a wholly owned subsidiary of AquaVenture, acquired all of the issued and outstanding membership interests of AUC Acquisition Hold... | 10-K† |
| Dec 18, 2018 | Pure Health Solutions, Inc. | Adjacency and edge-case industrials | $57 | On December 18, 2018, Quench USA, Inc., a wholly-owned subsidiary of AquaVenture Holdings Limited (“Quench”) acquired all of the issued and outstanding shares of Pure Health Sol... | 10-K† |
| Jun 11, 2015 | Biwater (BVI) Holdings Limited | Adjacency and edge-case industrials | $48 | On June 11, 2015, AquaVenture Water Corporation, a BVI company and an indirect wholly‑owned subsidiary of AquaVenture, acquired 100% of the capital stock of Biwater (BVI) Holdin... | 10-K† |
| Oct 31, 2016 | Aguas de Bayovar S.A.C. | Adjacency and edge-case industrials | $47 | On October 31, 2016, AquaVenture Holdings Peru S.A.C. ("AVH Peru"), a Peruvian company and an indirect wholly-owned subsidiary of AquaVenture Holdings Limited, acquired 100% of... | 10-K† |
| Dec 3, 2018 | FB Global Development, Inc., d/b/a Bluline | Adjacency and edge-case industrials | $3 | On December 3, 2018, Quench acquired substantially all the assets and assumed certain liabilities of FB Global Development, Inc., d/b/a Bluline (“Bluline”) pursuant to an asset... | 10-K† |
| Dec 16, 2019 | Jonli Water Services, Inc. | Adjacency and edge-case industrials | $0 | On December 16, 2019, we acquired substantially all of the assets and assumed certain liabilities of Jonli Water Services, Inc. (“Jonli”), a POU water filtration company based i... | 10-K† |
| Jun 6, 2014 | Quench USA Holdings LLC | Adjacency and edge-case industrials | $158 | On June 6, 2014, AquaVenture Holdings LLC acquired all of the assets of Quench USA Holdings LLC (the “Contributor”) under a Contribution Agreement dated as of June 6, 2014 (“Con... | 10-K† |
| Jun 16, 2014 | Atlas Watersystems, Inc. | Adjacency and edge-case industrials | $24 | On June 16, 2014, Quench USA, then a wholly‑owned subsidiary of AquaVenture, acquired all of the assets and certain liabilities of Atlas Watersystems, Inc. (“Atlas”), pursuant t... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 15 SEC-backed facts across 3 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
0
Named deal filings
3
Recent SEC filings
0
Evidence clips
6
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.0 rows+-
No filing source clears this category.
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.3 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Mar 6, 2020 | 10-K | Jonli Water Services, Inc. | Named deals | SEC filing |
| Mar 11, 2019 | 10-K | AUC Acquisition Holdings; Pure Health Solutions, Inc.; FB Global Development, Inc., d/b/a Bluline; Alpine Water Systems, LLC | Named deals | SEC filing |
| Mar 27, 2017 | 10-K | Biwater (BVI) Holdings Limited; Aguas de Bayovar S.A.C.; Quench USA Holdings LLC; Atlas Watersystems, Inc. | Named deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.6 rows+-
Medium
Pure Health Solutions, Inc.
10-K - Mar 11, 2019
On December 18, 2018, Quench USA, Inc., a wholly-owned subsidiary of AquaVenture Holdings Limited (“Quench”) acquired all of the issued and outstanding shares of Pure Health Solutions, Inc. (“PHSI”...
Biwater (BVI) Holdings Limited
10-K - Mar 27, 2017
On June 11, 2015, AquaVenture Water Corporation, a BVI company and an indirect wholly‑owned subsidiary of AquaVenture, acquired 100% of the capital stock of Biwater (BVI) Holdings Limited, which wa...
Aguas De Bayvar S.A.C.
10-K - Mar 27, 2017
On October 31, 2016, AquaVenture Holdings Peru S.A.C. ("AVH Peru"), a Peruvian company and an indirect wholly-owned subsidiary of AquaVenture Holdings Limited, acquired 100% of the outstanding shar...
FB Global Development, Inc., d/b/a Bluline
10-K - Mar 11, 2019
On December 3, 2018, Quench acquired substantially all the assets and assumed certain liabilities of FB Global Development, Inc., d/b/a Bluline (“Bluline”) pursuant to an asset purchase agreement (...
Jonli Water Services, Inc.
10-K - Mar 6, 2020
On December 16, 2019, we acquired substantially all of the assets and assumed certain liabilities of Jonli Water Services, Inc. (“Jonli”), a POU water filtration company based in Quebec, Canada pur...
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.