Prospect Water Co. provides water treatment products and services to household and commercial customers through independently franchised dealers.
- Prospect Partners teamed with management and independent equity sponsor Stone Pointe, LLC, of Naperville, Ill., to acquire 11 company-owned dealers of Culligan International in October, 2011, and form Prospect Water Co.
- Culligan, founded in 1936, distributes its products and services globally primarily through independently franchised dealers. As the top brand in the water treatment market, Culligan is the natural choice for consumers and businesses facing 'hard water' or other 'problem' water issues. Its products include water softeners, water filtration systems, bottled water, and other related products and services.
- Prospect Water Co. subsequently acquired:
- Two company-owned dealers of Culligan International in northern California, with locations in Napa and Santa Clara (May, 2012);
- Independently-owned Culligan dealer Windover Industries, Inc.'s Middlebury, Conn. location (July, 2012);
- Independent dealer Good Water Solutions, LLC, of Portland, Ore. (December, 2012);
- Independent Culligan dealer Culligan Water Conditioning of Lenox, Mass. (December, 2013);
- Independent Culligan dealer Chestnut Water Consulting, with locations in Cadiz, Ky., and Hopkinsville, Ky. (October, 2014);
- Independent Culligan dealer The Good Water Company, of Lima, Ohio (October, 2014);
- Independent bottled water company Nobby Beverage, of Plainville, Conn. (October, 2014);
- Independent bottled water company Duffey's Bottle Water, of New Paris, Ohio (December, 2014);
- Independent Culligan dealer CTK, Inc., of Vincennes, Ind. (April, 2015);
- Independent Culligan dealer B&Y Water, LLC, of Delphi, Ind. (August, 2015);
- Independent Culligan dealer Young's Water Conditioning, LLC, of Kokomo, Ind. (August, 2015);
- Former Kinetico dealer Kyle's Water Center, of Effingham, Ill. (October, 2015);
- Independent Culligan dealer Culligan of Charleston, of Charleston, Ill. (October, 2015);
- Independent Culligan dealer Culligan of Jackson, of Jackson, Ohio (December, 2015); and
- Independent Culligan dealer Gulf Coast Water Solutions, of Fort Walton Beach, Fla. (May, 2016)
- Prospect Water Co.'s franchises are located in the states of California, Connecticut, Florida, Illinois, Indiana, Massachusetts, New York, Ohio, Oregon, Rhode Island, and Washington.
- Prospect Water Co. is led by Don Fuller, CEO, and John Capone, COO, two veteran Culligan operating executives.
- Mr. Kenter serves Prospect Water Co. as Chairman; Mr. McInerney and Stone Pointe's Principal Lee Vandermyde serve as Directors.
- Prospect Water Co. seeks to acquire other Culligan franchises, independent water service dealers, and providers of commercial water purification services.
- SIC codes: 7389-84 (water treatment equipment & services); 7629-28 (water softening equipment service & supply); and 5963-0101 (bottled water delivery)