Spotless Water, which supplies purified water for use by window cleaners, car valeters and other trades, has secured a £6.35m private-equity investment that could see it roll out its services at 1,000 petrol stations.
The firm specialises in water that contains little or no total dissolved solids (TDS), meaning cars and windows cleaned using Spotless’ product do not require drying in order for a streak-free finish to be achieved.
Solar panels – which are only growing in number – also benefit from being cleaned with purified water, generating electricity more effectively if they are free from streaks and blotches.
Spotless currently has water stations at 160 locations in the UK, of which seven are petrol stations, including sites run by MFG and Morrisons. The firm has identified over 1,000 potentially suitable forecourts as it seeks to expand into a sector expected to be worth £530 million by 2030.
The company has dispensed 600 million litres of purified water since its 2016 founding, with its dispensers averaging 22,000 weekly refills at present.
The firm has also partnered with Park Garage Group, linking its dispensers to Park’s on-site jet washes – again, to facilitate better finishes without the need for hand drying – and is “actively seeking” other opportunities to integrate its water with existing valeting facilities.
Tim Morris, chief executive of Spotless Water, says his firm “is moving into another exciting phase”, with the new investment set to “turbocharge our next stage of growth”.
Srikar Karri, investment manager at YFM Equity Partners, which is putting £6.35m into Spotless, describes the firm as having “built something genuinely unique, a national network that gives cleaning and maintenance professionals instant access to pure water, without the cost or waste that comes with producing it themselves”.
