| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| AquaPenn Spring Water Company, Inc. |
| One AquaPenn Drive, Milesburg, PA 16853 * (814) 355-5556 |
| The company produces, bottles and sells non-sparkling natural spring water products to regional and national customers under both retailers' and other customers' private labels and its proprietary brands Pure American, Great American and AquaPenn. |
| Manager | Tier | Phone |
| PaineWebber Incorporated | Lead Manager | (212) 713-2626 |
| Lazard Freres & Co. | Co-manager | (212) 632-6717 |
| Parker/Hunter Incorporated | Co-manager | (412) 562-8222 |
| NYSE: | APN | Wholesale: | SIC 5149 | |
| Type of Shares: | Common Shares | Filing Date: | 10/24/97 | |
| U.S. Shares: | 4,071,117 | Offer Date: | 1/29/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 2,071,117 | Gross Spread: | $0.91 | |
| Offering Amount: | $56,995,638 | Selling: | $0.54 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 6,555,888 | |||
| Employees: | 225 |
| Issuer's Law Firm: | Ballard, Spahr,Andrews & Ingersoll |
| Bank's Law Firm: | Cravath, Swaine & Moore |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 9/30/97 | 9/30/97 | ||||
| Revenue: | $38.02 | Assets: | $26.58 | ||
| Net Income: | $2.79 | Curr Assets: | $6.49 | ||
| EPS: | $0.47 | Liabilities: | $8.52 | ||
| Prior EPS: | $0.26 | Curr Liab: | $3.40 | ||
| Cash Flow/Oper: | $4.80 | Equity: | $18.06 | ||
| Cash Flow/Fin: | $3.57 | Cash: | $0.69 | ||
| Cash Flow/Inv: | -$7.86 | Working Cap: | $3.10 | ||
| Competition |
| The bottled water industry is highly competitive. Many of the Company's competitors have more experience in the U.S. bottled water market, have greater financial and management resources and have more established proprietary trademarks and distribution networks than the Company. The Company currently competes with respect to bottled water with established national companies such as The Perrier Group of America, Inc. (whose brands include Arrowhead Mountain Spring Water, Poland Spring, Ozarka Spring Water, Great Bear, Deer Park, Ice Mountain and Zephyrhills Natural Spring Water) and Great Brands of Europe (whose brands include Evian Natural Spring Water and Dannon Natural Spring Water), as well as numerous regional bottled water companies located in the United States and Canada. The Company competes not only with other bottled water producers, but also with producers of other beverages, including, but not limited to, soft drinks, coffee, juices, beer, liquor and wine. The bottled water industry also competes for the same consumer who may, when choosing to drink water, drink tap water or use a home filtration system to filter tap water for drinking. There can be no assurance that the Company can compete successfully. |
| Business Plan |
| The Company's objective is to be the leading producer and bottler of natural spring water for customers on a national basis. Aspects of the Company's strategy include the following: (I) Focus on Premium PET Packaging, (ii) Produce Regionally and Sell to National and Regional Customers, (iii) Invest in State-of-the-Art Production Facilities, (iv) Create Innovative Packaging, (v) Provide "One-Stop-Shopping", (vi) Provide Superior Customer Service and (vii) Growth Strategy. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, including of the company's Milesburg, PA facility and a portion of the construction of the Ginnie Springs facility, repayment of debt associated with the acquisition of Castle Rock, repayment of outstanding balances under the company's credit facilities and other general corporate purposes. |
| Name of Shareholder | % Owned Before | % Owned After |
| Norman S. Rich | 0.42 | |
| Edward J. Lauth, III | 0.27 | 0.19 |
| Matthew J. Suhey | 0.08 | 0.05 |
| Geoffrey F. Feidelberg | 0.07 | 0.05 |
| Nancy Jean Davis | 0.06 | 0.04 |
| Officer Name | Title | Age |
| Edward J. Lauth, III | Chairman, President, Chief Executive Officer and Director | 43 |
| Dennis B. Nisewonger | Controller and Assistant Secretary | 49 |
| Geoffrey F. Feidelberg | Executive Vice President, Chief Operating Officer and Chief Financial and Director | 42 |
| Calvin J. Wagner, Jr. | Secreatary and Director | 38 |