Castanea Partners Invests in Essentia Water
Ropes & Gray represented Newton, Mass.-based Castanea Partners, a middle market consumer-focused private equity firm, in its investment in Essentia Water, a leading provider of alkaline drinking water. The transaction was announced Sept. 4. The investment came from Castanea’s third fund, a $500 million fund targeting companies with enterprise values up to $250 million. Additional terms of the deal were not disclosed.
Mergers & acquisitions partner Jane Goldstein (Boston/New York) led the deal team from Ropes & Gray, which included private equity associate Elizabeth Rahn (San Francisco).