Tully & Holland announces sale of calcium spring water bottler and distributor

September 18, 2006

Tully & Holland Incorporated is pleased to announce another successful conclusion to a sell-side M&A advisory engagement. The firm represented Cole Water Company, LLC of Peru, Indiana, in its sale to Idea Sphere Inc., of Grand Rapids, Michigan, whose principal offices are in New York, New York.

Tim Tully, President of Tully & Holland, stated, "We couldn't be more pleased with the outcome for the seller, whose members include two first-rate private equity groups, Circle Peak Capital and Scimitar Global Ventures, as well as third-generation members of the founding family, all of whom we represented in the transaction. This was the ideal buyer for Cole, whose naturally-fortified calcium spring water will be well received by Idea Sphere's broad distribution network of over 14,000 retail doors and strong presence in the health and natural food channel."

About the client

Cole Bros. was a bottled water company based in Peru, Indiana, producing a mineral-rich drinking water with a high calcium content. In 2003 its assets were acquired by Circle Peak Capital Management, and the business then operated as Cole Water Company LLC.