BIC, Neuberger Berman, StepStone and Skandia completed the acquisition of a 25% stake in Waterlogic from Castik Capital.

Private equity firms British Columbia Investment Management, Neuberger Berman, StepStone, and a mutual life insurance company Skandia, completed the acquisition of a 25% stake in Waterlogic, a global designer, manufacturer, distributor and service provider of purified drinking water dispensers, from Castik Capital, a private equity firm. Financial terms were not disclosed. "We are pleased to be working alongside a talented management team to support the long-term continued growth of the business. Waterlogic is a leading company with a solid track record of success that has the potential to generate value-added returns for our pension plan and insurance fund clients," Jim Pittman, BCI Executive Vice President and Global Head, Private Equity.