Quench USA, Inc., a King of Prussia, Pa.-based provider of filtered water coolers in North America, has closed an approximately $30m equity and debt financing.
Backers include existing shareholders Element Partners, Virgin Green Fund and Douglas Brown and new investors ORIX Venture Finance, Advent-Morro Equity Partners, Potomac Energy Fund and The Pohlad Companies.
The company intends to use the funding to continue to grow organically and through acquisitions.
Led by Chairman Douglas Brown and CEO Anthony Ibarguen, Quench is a clean technology company that rents, installs and services “bottleless” water filtration systems for businesses across North America. Quench systems are designed to purify tap water, providing an environmentally-responsible solution than delivery of water in 5-gallon plastic jugs. It has an installed base of more than 50,000 water filtration systems across 47 US states, Mexico, Canada and the Caribbean.