Brentwood’s Investment in Watermill Express

Kirkland & Ellis counseled Brentwood Associates in the transaction.

Brentwood Associates, a Los Angeles-based private equity firm, announced its decision to acquire majority control of Watermill Express, LLC, partnering with the co-founders, Lani and Don Dolifka, as their first institutional partner. Watermill Express’ refill stations provide affordable, sustainable, and safe drinking water and ice in a convenient drive-up format. The Company operates and franchises nearly 1,300 stations across nine states, predominantly across the West Coast and Sunbelt regions.

Brentwood Associates is a Los Angeles-based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer and technology-enabled business services companies. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion.

The Kirkland team advising Brentwood was led by corporate partners Hamed Meshki (Picture) and Bianca Levin-Soler and included associates Kristina Mooradian and Sam Raffa; tax partners Mike Beinus and Meredith Levy and associate Liz Allison; debt finance partners Nisha Kanchanapoomi and Josh Jang and associate Tina He; technology & IP transactions partner Matt Lovell and associate Paula McDonald; executive compensation partner Jack Stratton and associate Andrew Hedman; environmental transactions partner Toby Chun and associate Caitlin Meagher; employee benefits partner Matt Antinossi and associate Jack Amaro; labor and employment partner Richard Kidd and associates Jaclyn Schruhl and Caitlin Koseck; and real estate partner John Caruso.

Involved fees earner: Andrew Hedman – Goodwin Procter; Liz Allison – Kirkland & Ellis; Jack Amaro – Kirkland & Ellis; Matthew Antinossi – Kirkland & Ellis; Michael Beinus – Kirkland & Ellis; John Caruso – Kirkland & Ellis; Toby Chun – Kirkland & Ellis; Tina He – Kirkland & Ellis; Whang Ki Josh Jang – Kirkland & Ellis; Nisha Kanchanapoomi – Kirkland & Ellis; Richard Kidd – Kirkland & Ellis; Caitlin Koseck – Kirkland & Ellis; Bianca Levin-Soler – Kirkland & Ellis; Meredith Levy – Kirkland & Ellis; Matthew Lovell – Kirkland & Ellis; Paula McDonald – Kirkland & Ellis; Caitlin Meagher – Kirkland & Ellis; Hamed Meshki – Kirkland & Ellis; Kristina Mooradian – Kirkland & Ellis; Sam Raffa – Kirkland & Ellis; Jaclyn Schruhl – Kirkland & Ellis; Jack Stratton – Kirkland & Ellis;

Law Firms: Goodwin Procter; Kirkland & Ellis;

Clients: Brentwood Associates;

Author: Martina Bellini