Water cooler firm Angel Springs has completed the acquisition of the entire cooler base of Water at Work for an undisclosed sum.

Wolverhampton-based Angel Springs agreed the deal with support from private equity provider LDC, which invested in the firm in Jul.

Established in 2005, Hertfordshire-based Water at Work is a family-owned business and has the majority of its mains fed and bottled water coolers located within London and the northern Home Counties.

John Dundon, Angel Springs managing director, said the acquisition provides a good strategic fit with the firm’s Chiltern distribution centre which is located in Tring in Hertfordshire, and will enable further increased customer density and service distribution efficiencies.

He said: “This acquisition is another great example of our ambition to continue to grow our business and to lead the consolidation of what is a fragmented UK water cooler market. Despite the difficult economic outlook, Angel Springs has continued to grow whilst maintaining its reputation as a high quality, national service provider.”

Angel Springs supplies and services more than 45,000 bottled water coolers and mains-fed water coolers, to approximately 30,000 customers across the UK.

The business has a diverse customer base largely comprised of SMEs, together with a number of multi-site blue chip organisations, including the BBC, London Midland, Wolverhampton Wanderers Football Club and AGA.

The business has more than doubled in size since it was established in 2003, following a strategic mix of acquisitions, organic and geographic growth, having recently opened additional depots in Kent and Dorset to service growing customer bases in the South East and the South Coast.

This deal represents the third acquisition to be completed by Angel Springs in 2011; following on from Aquae Sulis in March and most recently, the acquisition of a 50 per cent stake in the Fillongley Spring Water bottling plant in August.