Daily News: January 8, 2018

ACT Advises WaterStation Technology on KeyBank Refi

ACT Capital Advisors served as the financial advisor to WaterStation Technology (WST) in its debt refinancing by KeyBank.

Based in Everett, WA, WST is a provider of eco-friendly, self-serve, water vending machines. Founded in 2012, WST’s technology creates “virtual spring water” through a natural mineralization process.

WST approached ACT to assist the company in securing growth capital. The company was open to equity, private debt and bank debt, individually or in combination. During the process, ACT was able to narrow down the best products and lenders for WST. WST’s owners chose KeyBank.

KeyBank was chosen for its abiity to lend the right amount of capital, at a competitive rate, as well as being an overall good fit for the owners. By working with KeyBank, WST was able to consolidate its balance sheet, lower its borrowing costs and access additional working capital.

Bob Hild, ACT’s chairman, said, “We look forward to a long-term partnership with the innovative team at WST. We believe their business is well positioned for rapid growth. ACT is excited to help them execute on their ambitious plans and become the industry leader in this vital market.”

Chandler Hueckel, senior business banking relationship manager of Business Banking, led the refinancing for KeyBank from its Tacoma, WA office.