Spotless Water

The company

Spotless Water is a technology-enabled provider of ultra-pure 'streak-free' and environmentally friendly, filtered water. The company operates in various industries, including window cleaning, dental practices, solar farms, car valeting, and aquariums.

As the UK's first self-service, purified water distribution network, Spotless delivers its product via an established network of sites, with 111 autonomous filling stations across the country. The platform has over 35,000 registered business customers and serves almost 8,000 active users, with transactions taking place every 70 seconds.

Business customers can sign up to the network, top up their account with funds, and then access the service at any time.

Investment rationale

Spotless has grown very quickly since its inception and the traction seen in the growing site network and customer base is indicative of the appetite for the product in the UK market. The company's performance so far demonstrates its potential to expand into overseas markets and presents a significant upside opportunity for Spotless where there are currently no direct competitors.

Spotless will capitalise on its first mover advantage and aims to establish over 400 sites by 2025. There is good visibility of potential revenues in the near term and a significant pipeline of potential sites.

The loan facility from Connection Capital clients will support its growth plans and carries full consents and appropriate covenants.

Our clients were able to invest in this transaction in multiples of £25,000.