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Aqua Springs, Cyprus

Business revitalization project; providing capital and management support.

Aqua Spring has been in continuous operating history since the 1960s. As the largest of the independent producers in Cyprus, the company produces a premium water with a focus on discount sales.


  • Continuous operating history and well-known local brand.
  • No diversified product offering (e.g. drinks, beer).
  • Limited distribution network.
  • Expert technical management with older production equipment.
  • Strategic joint venture partner required to leverage existing platform and initiate a corporate investment and product distribution strategy.

Transformation from a founder-dependent organization into an independently disciplined firm.

Prior to Saratoga Capital’s investment, the company’s founder had been solely responsible for a wide variety of high-importance tasks including formulation of the company’s business model and budget, as well as overall implementation of numerous initiatives.

With its investment, Saratoga Capital has implemented a strategy to support the founder’s vision, introducing financial discipline coupled with a new technology reinvestment strategy designed to spur growth and business scalability.

Prior to investment, the majority of the company’s operations were heavily depended on the skill of individual employees. With Saratoga Capital’s support, the company has now started an automation process designed to free up personnel from production and reallocate them to effecting a wider distribution and sales strategy.

Project Team

Steven M. Pepa, Director → bio

Pavlos Timinis, Principal and Project Leader → bio


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