The Black Mount journey
In the late 1980s, Brian Carey was growing potatoes at his family farm in Millbrook, Victoria when he approached Neverfail Springwater and proposed that they take advantage of the rich spring water supply under the family property to extract natural spring water for bottling. Brian seized this opportunity and founded Black Mount Natural Springwater, starting with a single water source and a single truck.
Over time, the business developed a reputation for outstanding quality, reliability and service in the bottled water industry. This industry leading practice for sourcing, managing and transporting spring water differentiated the business against its competitors and helped it grow organically to service over 20 customers throughout Victoria by 2006.
Quenching the thirst
In 2006, Brian’s son, Tim, left his role as a tax accountant to operate the business full time.
Tim continued to grow and develop Black Mount to provide a higher level of service at a more competitive price to expand its customer base. Brian and Tim’s water sourcing and management expertise helped to secure new water sources to meet their customers’ demand for a variety of water specifications and ever increasing volumes.
The business grew rapidly from its Victorian headquarters, entering New South Wales, Queensland and Western Australia alongside its key customers and reaching a national fleet size of 25 trucks.
Flowing into the future
In late 2016, Tim and Brian were seeking a partner to support them to execute growth opportunities. They decided to partner with The Growth Fund, with a plan to inject growth equity capital to grow both the spring water sources and the water cartage business.
The partnership enabled Black Mount to buy out minority shareholders, restructure the banking facilities to remove personal guarantees on the Careys’ family farm and ensured sufficient access to additional debt funding as the business continues to grow.