Tag Archives: Water management

Arcus announces its first investment for its newest fund with acquisition of Workdry International Limited

Arcus

London, United Kingdom (12 September 2022) – Arcus Infrastructure Partners (“Arcus”) announces that Arcus European Infrastructure Fund 3 SCSp (“AEIF3” or the “Fund”) has agreed to acquire a c. 83% interest in Workdry International Limited (“Workdry” or the “Company”), with the balance of the shareholding to be held by the current majority owners of the business (the Bright family) and key individuals from the Company’s management team.

The acquisition of Workdry, the UK’s leading leasing provider of water pump and wastewater treatment assets, marks the first investment for the new Fund. Workdry operates through trading brands Selwood and Siltbuster and serves customers across the water utility, large-scale infrastructure and construction sectors. The Company’s assets are critical to managing the maintenance lifecycle of the UK’s water infrastructure network, supporting the UK’s wastewater treatment network through periods of high demand and maintenance, and for general water displacement needs related to large-scale infrastructure and construction projects. In addition to its core asset leasing activities, the Company provides highly specialised services such as surveying, system design, installation and monitoring.

Workdry’s market leading position is supported by its extensive regional footprint, sizeable asset base and deep operating expertise. The Company operates from a depot network of 22 locations, with a fleet of over 5,500 pumps (plus ancillary equipment) and 3,000 modular wastewater treatment systems. Workdry’s c. 550-person employee base, including its solutions engineering team, ensures a highly responsive and unique value-add leasing proposition for its high-quality customer base, which includes the majority of the UK’s water utilities as well as leading engineering, infrastructure and construction firms. Its assets play a key role in the delivery of landmark UK infrastructure projects such as Crossrail, HS2 and Hinkley Point as well as major construction projects across the country.

Richard Brown, CEO of Workdry, said: “Workdry is an incredibly successful business that has grown significantly over the past decade in line with the Board’s plans to deliver the very best in complete water handling and treatment solutions on a regional, national and international scale.”

 

“Delivering the next steps in our growth required new and experienced investors to enable us to scale up while continuing to deliver the quality assets and services that our customers associate with our Selwood and Siltbuster brands. The team at Arcus shares our values, vision and commitment to outstanding provision of mission-critical assets and services, and their investment will enable us to deliver on those ambitions, building on all we have achieved to date to strengthen our position as a European leader in water and wastewater asset leasing and integrated solutions.”

Jordan Cott, Arcus Partner and Head of Logistics & Industrials Origination, who led the transaction, said: “We have spent significant time reviewing value-add industrial asset leasing businesses in Europe, and Workdry stood out as a key target not only due to its strong management team and market leading position but also given its strong fit with Arcus’ infrastructure investment strategy. The Company’s essential role for its customers has become even more important given increasingly stringent regulation and public scrutiny with respect to the UK’s water and wastewater infrastructure. We look forward to partnering with the Bright family and Workdry’s very strong senior management team in delivering the next phase of growth for the business.”

 

Commenting on the acquisition, Ian Harding, Managing Partner and Head of Origination at Arcus said: “We are extremely pleased to announce our investment in Workdry, a significant announcement for Arcus as we make our first investment in our new Fund. Workdry represents a strong fit with the AEIF3’s investment strategy of targeting mid-market, value-add infrastructure businesses. As with many Arcus investments, we are delighted to be partnering with a business with such an extensive operating history and are looking forward to developing the business further in this essential UK industry.”

Arcus was advised by Lincoln (M&A and Financing), Santander (Financing), LEK (Commercial), WSP (Technical), Macfarlanes (Legal), PWC (Financial, Tax and IT), and AON (Insurance).

About Arcus

Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and special co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value of EUR c.19bn (as of 30 June 2022). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials, and energy sectors.

Arcus Media Contacts:

Debbie JohnstonE: debbie@sprengthomson.com

T: +44 7532 183811

 Callum SprengE: callum@sprengthomson.com

T: +44 7803 970103

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Baird Capital Invests in UGSI

Baird Capital
SAN JOSE/CHICAGO (June 15, 2022) – Today, UGSI Solutions, Inc. (“UGSI”), a leading provider of Water Quality Management Solutions and Chemical Feed Systems to the municipal water and wastewater utility markets, announced an investment from Baird Capital’s private equity team.

The investment will enable the company to fuel continued growth due to the increasing prevalence of municipal water quality issues driven by climate change, increasing population density, aging infrastructure and resource scarcity.

“Baird Capital provides more than just a source of capital,” said Andy Seidel, Chief Executive of UGSI. “Their partnering approach, industrial presence and deep experience with growth companies provide the bench strength for the next stage of growth for UGSI solutions.”

“We are very pleased to partner with Andy and UGSI’s strong leadership team,” said Rob Ospalik, Partner with Baird Capital’s private equity team. “This investment aims to drive continued growth and operational improvements across the business so UGSI can continue innovating and driving success for their customer base.”

Ospalik and Becca Schlagenhauf, Vice President, have joined UGSI’s board of directors as part of the investment deal. Raymond James & Associates, Inc. (“Raymond James”) served as the financial advisor to UGSI. Additional financial details were not disclosed.

For more information on Baird Capital’s investment approach to Sustainability, visit www.BairdCapital.com.

About UGSI Solutions, Inc.

UGSI Solutions, Inc. provides a suite of water quality management technologies and chemical feed solutions to municipal and industrial clients. With a history that reaches back over 100 years, UGSI Solutions combines iconic brands such as Encore® metering pumps, Varea-Meter® flow meters and Polyblend® polymer activation systems with today’s cutting-edge technologies such as Microclor® on-site hypochlorite generation, Monoclor® RCS disinfectant residual management and PAX tank and reservoir mixing systems. From tank mixing, to DBP removal, to disinfectant residual management and polymer activation – UGSI Solutions offers a full set of plant based and “outside the fence” water quality solutions. Tens of thousands of installations validate our experience and know-how in the areas of chemical feed and disinfection. UGSI Solutions makes your water and wastewater chemicals work harder for you.

About Baird Capital

Baird Capital manages two investment platforms: Global Private Equity and U.S. Venture Capital and makes investments in B2B technology & services-focused companies around the world. Having invested in 335 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.

For More Information

Rachel Berkowitz
Baird Capital Public Relations
(414) 298-5101 | rberkowitz@rwbaird.com

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AURELIUS portfolio company VAG closed acquisition of Brazilian supplier of valve solutions RTS

Aurelius Capital
  • Deal increases VAG’s geographical reach and product offering in Brazil and Latin America
  • Acquisition supports VAG’s ambition to strengthen its position as the leading supplier of water and wastewater valves on a global scale
  • AURELIUS` fifth add-on acquisition in 2022, underlining buy-and-built strategy

Munich/Mannheim/São Paulo, April 4, 2022 – VAG, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), closed the acquisition of RTS (Brazil), a supplier of valve solutions, from the company’s previous owner. RTS’ well-known market position and customer base looks set to allow VAG to expand its geographical reach along with complementary product portfolios of the two companies. This will allow VAG to offer a broad range of high-quality water flow control solutions for water treatment and distribution, wastewater management, dams and hydropower.

RTS is a leading Brazil-based manufacturer of valve solutions used in water, wastewater and other industries such as energy. The company is headquartered in Guarulhos – São Paulo, Brazil, and has a well-established customer base in its home country. Becoming a VAG Group brand, RTS will support VAG’s growth in Brazil and other Latin American markets. RTS and VAG have been collaborating since 2004 and RTS has been an official VAG distributor in Brazil since 2012.

“We are very pleased about this opportunity for VAG and RTS to join forces and offer even better products and services to our customers in Brazil and Latin America with RTS becoming one of VAG’s Group brands. RTS has been a trusted partner of VAG for many years, so our two companies already know each other very well. We are confident that together we will be able to respond to our customer needs in Brazil better than ever before”, says Dr. Jan Nopper, CEO of VAG Group.

“This acquisition will further strengthen VAG’s position in the region towards a market leading position. It is our fifth add-on acquisition in 2022, underlining AURELIUS’ highly successful buy-and-built strategy of value creation for both our portfolio companies and our investors.” says Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA.

AURELIUS/VAG were advised on the transaction by KPMG (Financial, Labour, Tax) and Machado Meyer (Legal).

About VAG Group

VAG is one of the leading suppliers of valves for water treatment and distribution, wastewater systems, dams and hydropower. It belongs to the AURELIUS Group since November 2018. VAG is known throughout the world for its market-leading water valves since 150 years. The company is active in both the production and distribution of standard products and the global project business.

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DIF Capital Partners and PERENfra announce North American water infrastructure partnership

DIF

DIF Infrastructure Fund VI, managed by DIF Capital Partners (“DIF”) and PERENfra LLC (“PERENfra”) are pleased to announce the signing of a partnership agreement to develop and acquire water infrastructure opportunities in North America. The partnership will focus on all areas of water for municipal and industrial uses, targeting large scale investments towards development of a significant portfolio of over USD $1.5 billion.

PERENfra is led by an experienced management team with a strong network in the water sector and has several investment opportunities already in process. DIF’s complementary expertise in development and infrastructure investment as well as access to capital through its DIF Infrastructure Fund VI will help accelerate growth of the portfolio. The partnership’s investment strategy focuses on both acquisitions of operational projects and late-stage development projects targeting water efficiency and reliability while providing positive social and environmental impacts.

Jeff Nelson, Founder and CEO of PERENfra said “We are proud and excited to partner with DIF to provide essential water infrastructure in North America and beyond. There is a transition coming in water infrastructure, and as the needs for water continue to become more complex, we have built an industry leading team with the right partners to provide safe, sustainable, efficient solutions for the long-term.”

“Significant capital is required for necessary upgrades in water infrastructure systems across North America. DIF is pleased to be partnering with the experienced specialist team at PERENfra in pursuit of critical investments in essential water infrastructure.” said Marko Kremer, Head of DIF North America.

DIF was advised by Allen & Overy (legal). PERENfra was advised by Davis Graham & Stubbs (legal) and Mount Vernon Partners (transactional).

 

About DIF Capital Partners:

DIF Capital Partners is a global independent investment fund management company with approximately €8.5 billion of funds under management. Through nine investment funds, DIF Capital Partners invests in high-quality infrastructure assets that generate long-term and stable cash flows, including water, transportation, renewable energy, regulated utilities, and other infrastructure projects in North America, Europe, South America and Australia.

https://www.dif.eu/

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

 

About PERENfra:

PERENfra is a United States based infrastructure company focused on operational and development opportunities in the water sector across various geographies. PERENfra takes a long-term approach to owning and operating essential assets and our team has a reputation of providing efficiency and certainty for our clients and partners. PERENfra currently owns and operates assets providing municipal water supply and environmental conservation.

https://www.perenfra.com/

 

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Waterlogic strengthens its position in Sweden with the acquisition of three companies

Castik Capital

04.01.2021

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of Vattentornet Aqua Concilio, Waterconcept and Thoreau International, hereby referred to collectively as ‘Thoreau’.

Vattentornet Aqua Concilio services dispensers in offices and workplaces in western Sweden, with some dispensers also located in Stockholm, Östergötland and Skåne. Waterconcept focuses purely on the HoReCa market under the Thoreau brand, boasting strong brand recognition in Sweden alongside its trademarked bottle. Thoreau International sells franchises for HoReCa businesses outside of Sweden, providing product concept, marketing support, expertise and brand recognition to offer quick and affordable solutions for start-ups.

Founded in 1992, Waterlogic has pioneered the application of advanced technology in the design of its water dispensers to deliver the safest, best-tasting water proven effective against COVID-19, in the most sustainable way to organisations around the world. Waterlogic is a vertically integrated company operating throughout Europe, the Americas and Australia with its own manufacturing operations in Australia, China and the U.S, and an extensive independent global distribution network reaching over 50 countries.

Mattias Källemyr, CEO Waterlogic Sweden, says, “We are excited to expand the Waterlogic offering for the HoReCa sector, adding the well-respected Thoreau brand to complete our already impressive hospitality concept – Purezza. We welcome the Thoreau employees to Waterlogic and wish them every success in our combined business.”

The acquisition of the Swedish companies results in the addition of 1,000 machines in field (MIF) and use of the highly valued Thoreau brand to expand our hospitality offering in Sweden alongside our already established Purezza brand. Waterlogic Sweden will provide hydration solutions for a wide range of organisations from small offices and workplaces to large international and corporate offices, hospitality and HoReCa businesses.

Former Thoreau owner Jörgen Andersson says, “I have great confidence in the expansion plan for the Thoreau concept, and the opportunity to merge with Waterlogic is important in enabling us to continue to expand the brand at an international level and of course locally in Sweden.”

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Thoreau is the most recent acquisition as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US and Canada, UK, Australia, Spain, France, Germany, Latin America and Scandinavia.

Media Contact

Rosanna Turner, Group Marketing Communications Manager
rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and accessories designed for environments such as offices, factories, hospitals, restaurants, hotels, schools and public spaces. From freestanding, countertop and integrated dispensers to water filling stations, fountains and boilers, every solution focuses on delivering the best quality water in the safest and most sustainable way. An extensive range of consumables and accessories adapts to customer needs and is available on subscription service to guarantee cost savings and continuous supply.

Founded in 1992, Waterlogic was one of the first companies to introduce mains-fed dispensers to customers worldwide, and has been at the forefront of the market promoting product design and water quality, the application of proprietary technologies, sustainability and world-class sales and service.

Waterlogic has its own subsidiaries in 18 countries and its core markets are the US, Australia and Western Europe, in particular the UK and Germany. The company drives growth organically and through M&A to consolidate its lead in existing territories and extend its reach to new markets. In addition, Waterlogic’s extensive and expanding independent global distribution network spans over 50 countries around the world in North and South America, Europe, Asia, Australia and South Africa. Its far-reaching market coverage means Waterlogic is the only water dispenser provider able to cover the full geographical needs of global customers under one roof. More information can be found at www.waterlogic.com.

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Gryphon Makes Strategic Investment in Vessco Holdings

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Gryphon Investors

New Investment Focuses on Water and Wastewater Treatment Systems

San Francisco, CA – November 16, 2020 — 

Gryphon Investors (“Gryphon”), a San Francisco-based middle-market private equity firm, announced today that it has acquired Vessco Holdings (“Vessco” or “the Company”), in partnership with Vessco’s management team, from O2 Investment Partners. Terms of the transaction were not disclosed.

Based in Minneapolis, Minnesota, Vessco has been serving Upper Midwest and Northeast industrial and municipal customers for over 35 years. Vessco is a value-added distributor of process, flow control, pumps, and automation equipment and services to water and wastewater treatment utilities and industrial users. The Company offers a comprehensive product portfolio and provides value–added design, engineering support, and aftermarket parts and services.

Vessco Holdings’ management team, led by CEO Brian DeWolf, will continue to manage the business, and senior management will remain significant owners of the Company. Longtime industry executive Jim McGivern will become Executive Chairman of the Company. A seasoned executive with over 30 years of experience in the water, wastewater, and utility sectors, Mr. McGivern was previously the COO of American Water, CEO of Elster Group and CEO of Sigma Corporation.

“Vessco operates at the nexus of Gryphon’s experience with infrastructure and utility products and value-added distribution businesses. We are very pleased to partner with Brian, a highly talented and visionary leader, and the other members of the management team. Vessco is poised for rapid growth as it capitalizes on its track record, reputation, and know-how to serve its customers,” said Leigh Abramson, Deal Partner and Head of the Industrial Growth Group at Gryphon.

Mr. DeWolf said, “We are delighted to be working with Gryphon through the next stage of our growth. Not only is Gryphon the right cultural fit, but the firm has a history of showing strong support for managers by providing operational and financial resources for both organic growth and acquisitions. We have been impressed with Gryphon’s solid knowledge of our industry and their insightful assessment of how to create efficient, sustainable, and competitive water treatment systems.”

Wes Lucas, the Operating Partner to Gryphon’s Industrial Growth Group, added, “Water and wastewater treatment is a critical part of modern human life, and the industry will continue to experience attractive growth tailwinds from population growth, increasing regulation, and the need to replace aging infrastructure. We look forward to supporting Vessco management during its next phase of growth by leveraging Gryphon’s in-house Operations Resources Group and Human Capital Group to facilitate further investment in the business and its employees.”

Felix Park, Principal at Gryphon, added, “Vessco has built a culture that combines entrepreneurial spirit and local market expertise with a commitment towards OEM suppliers and customers. Given its leading position within a large and growing addressable market, the Company is well-situated for long-term expansion into additional products and services as well as new geographies. In addition to organic growth, we will be focused on acquisitions as an important component of the go-forward growth strategy.”

Gryphon was advised by legal counsel Kirkland & Ellis LLP, and financial advisor Raymond James. Honigman LLP was legal advisor to O2 Investment Partners, and William Blair & Co. was O2’s financial advisor. Vessco management was represented by attorney Peter W. Klein, P.A., of Boca Raton, FL.

About Vessco Holdings
Vessco (www.vesscoholdings.com) Vessco is one of the largest equipment distributors and systems integrators of water and wastewater treatment technology in the United States. Vessco offers its customers an exceptional breadth of products and services with its line card of valued vendors. Vessco provides its products and services in over 18 states throughout the Central U.S., Midwest, Northeast, and Mid-Atlantic regions.

About Gryphon Investors
Based in San Francisco, Gryphon Investors is a leading private equity firm focused on growing and enhancing mid-market companies in partnership with management. The firm has managed over $5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $100 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise. For more information, visit www.gryphoninvestors.com.

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EQT Infrastructure to sell Synagro

eqt

  • EQT Infrastructure to sell Synagro, the largest provider of wastewater biosolids solutions in North America, to West Street Infrastructure Partners III, an infrastructure investment fund managed by Goldman Sachs Merchant Banking Division
  • Synagro partners with local communities to process over 14 million tons of wastewater biosolids annually to protect the health of our water, air, soil, and those who depend on them
  • Under EQT’s ownership, Synagro has grown its facility footprint from 15 to 24 facilities, while expanding its services offerings to provide reliable and sustainable biosolids management solutions to 1,000 municipal and industrial customers across 35 states

The EQT Infrastructure II fund (“EQT Infrastructure”) today announced it has entered into a definitive agreement to sell Synagro Technologies, Inc. (“Synagro” or “the Company”) to West Street Infrastructure Partners III, an infrastructure investment fund managed by Goldman Sachs Merchant Banking Division.

Founded in 1986 and headquartered in Baltimore, Maryland, Synagro is the leading provider of wastewater biosolids solutions in North America. The Company provides essential biosolids treatment solutions, turning a waste stream into fertilizer products for over 1,000 municipal and industrial customers across 35 states. Synagro manages over 14 million tons of biosolids annually across its portfolio of 24 specialized treatment facilities and the industry’s largest permitted beneficial use land base.

Under EQT Infrastructure’s ownership, Synagro has developed into the industry leading wastewater biosolids solutions platform in North America with the industry’s largest wastewater biosolids treatment facility footprint, broadest network of permitted disposal solutions and most comprehensive environmental services offering. With its data driven and local approach, the Company has solidified its position as a trusted partner for municipalities and industrial customers helping to protect the water, air and soil quality of the local communities in which Synagro operates.

Crosby Cook, Partner at EQT Partners, said: “Partnering with the Synagro management team to develop the Company into the industry leading platform has been a fulfilling experience. Synagro’s sustainable business model aligns well with EQT’s ESG goals and we are proud to have been a part of the Company’s transformation. With ever-increasing demand for sustainable biosolids solutions, Synagro is well-positioned for its next phase of growth under Goldman Sachs’ ownership.”

Bob Preston, Chief Executive Officer of Synagro, said: “Under EQT’s ownership, we have cemented our position as market leader providing sustainable biosolids solutions to communities in North America. We see great potential for further growth in this market and look forward to continuing our journey together with Goldman Sachs.”

Cedric Lucas, Managing Director at Goldman Sachs Merchant Banking Division, added: “We are excited about the opportunity to partner with Bob and the Synagro team to build on their success, accelerate innovation in biosolids treatment solutions, and support the Company’s growth plans in the years to come. Synagro is a great example of our infrastructure funds’ commitment to investing in sustainable businesses and Goldman Sachs’ dedication to ESG.”

The transaction is subject to customary conditions and approvals. It is expected to close in December 2020.

Morgan Stanley & Co. LLC acted as financial advisor and Weil, Gotshal & Manges LLP as legal advisor to EQT Infrastructure.

Goldman Sachs & Co. LLC acted as financial advisor and Sidley Austin LLP as legal advisor to West Street Infrastructure Partners III.

Contact
US press contact, daniel.yunger@kekstcnc.com, +1 917 574 8582
Crosby Cook, Partner and Investment Advisor to EQT Infrastructure, +1 917 281 0851
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Synagro
Founded in 1986, Synagro Technologies, Inc. works to turn waste into worth by helping more than 1,000 municipal and industrial water and wastewater facilities in North America move toward safer, cleaner and more environmentally beneficial practices. For some, it’s simply cleaning the water supply. For others, it’s much more – we partner with them to process their waste for compost or energy pellets, creating healthy soil and sequestering carbon in the process. As the largest recycler of organic by-products in North America, we’re trusted because we remove risks while keeping the logistics clean. Because we have the most experienced team in the industry, we can offer tailored solutions that ensure no waste goes to waste. Much of our work isn’t pretty. But it’s a greener world emerging from a cleaner one – worth coming from waste – and we think that’s pretty beautiful.

More info: www.synagro.com

About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

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Bridgepoint agrees sale of majority interest in Miya to Antin Infrastructure Partners

Bridgepoint

Bridgepoint has agreed the sale of Miya Water (“Miya”), a leading international environmental services company, to Antin Infrastructure Partners.

Miya is a best-in-class global water platform uniquely positioned to take advantage of growth opportunities in the sector. The company is the largest private water operator in Portugal and a global provider of comprehensive integrated water efficiency solutions to public and private utilities. With more than 700 employees, Miya serves over 600,000 people in Portugal via six long-term concessions and one public private partnership (PPP) and has delivered more than 200 water efficiency projects globally aimed at reducing non-revenue water (water lost during distribution).

Following completion of the acquisition, Antin will work with Miya’s management team, led by CEO Amit Horman, to support growth opportunities in water concessions and PPPs in Europe and North America, as well as the delivery of further water efficiency projects around the world.

Miya’s growth prospects are underpinned by attractive market fundamentals, a greater focus on water efficiency and significant investment needs supported by the private sector.

Mauricio Bolaña, Partner at Antin, said:”Miya is a best-in-class water operator with a solid base that will serve as a springboard to capture the strong growth potential that exists in the sector. We are delighted to support Miya’s management team in the next stage of the company’s development.”

Héctor Pérez, Partner at Bridgepoint, said: “Miya is a unique business with a superb management team. We are extremely pleased to be a part of its journey and to continue supporting its growth ambitions in this new stage together with Antin.”

Amit Horman, Chief Executive Officer at Miya, commented: “We thank Bridgepoint for their significant support. In partnership with Antin, we look forward to delivering on the significant potential we see over the coming years.”

Antin was advised by Deutsche Bank, Herbert Smith Freehills, Sérvulo, McConnell Valdés, PWACS Corporate Finance, PWACS, Defining Future Options, EY and Marsh.

Bridgepoint was advised by Citi, Uría Menéndez, PwC Strategy&, EY, ERM and Willis.

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Waterlogic closes on long-term investment from strong institutional partners to accelerate growth ambition

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the closing of the acquisition of a significant minority stake in the company by four strong institutional investors – BCI, Neuberger Berman, StepStone, and Skandia.

Following January’s announcement of British Columbia Investment Management Corporation (BCI) entering into an agreement to acquire a significant minority stake in Waterlogic from Funds managed by Castik Capital and the Waterlogic management team, Waterlogic and Castik Capital complete the transaction and include three additional partners.

BCI, with C$153.4 billion in assets under management (as of March 31, 2019), is a leading provider of investment management services to British Columbia’s public sector and one of Canada’s largest asset managers. Joining BCI as minority shareholders in Waterlogic are:

  • Neuberger Berman, a private, independent, employee-owned investment management firm that manages equities, fixed income and private equity portfolios for global institutional investors, advisors and high-net-worth individuals;
  • StepStone, a global private markets firm providing customised investment and advisory solutions to some of the most sophisticated investors in the world; and
  • Skandia, a mutual life insurance company with SEK 692 billion under management as of 31 December 2019, provides pension, banking and insurance services to the population of Sweden.

Jeremy Ben-David, Founder and Group CEO of Waterlogic, said: “This is a very pleasing result and a testament to Waterlogic’s businesses resilience, especially considering the unprecedented economic downturn and turbulent times we currently find ourselves in. The acquisition provides further access to capital in support of Waterlogic’s growth ambition to become the global leader in the fast-growing market for bottle-less workplace hydration. We look forward to continuing our journey with Castik Capital and the new shareholders in this next exciting phase of our growth.” 

Waterlogic has a direct presence in 17 countries including the UK, USA, Canada, Chile, Australia and Western Europe, and an extensive independent global distribution network reaching over 50 countries around the world. The company is responsible for hydrating nearly 50 million consumers daily and contributes to the reduction of 23.8 billion single-use plastic bottles around the world each year.

Waterlogic aims to build on its capabilities and customer base in both established and new geographic markets in pursuit of its mission to offer healthy drinking water solutions and contribute to the reduction of plastic pollution globally with a range of freestanding and countertop dispensers, Billi integrated dispensers and Purezza, the company’s specialty restaurant and hospitality solution.

Inspired by innovation, Waterlogic has embraced superior FirewallTM and BioCote® technologies to create cutting-edge, highly certified products focused on delivering the safest, best-tasting water to all businesses in the most sustainable way. The company’s approach to Environmental, Social and Governance (ESG) supports the growing demand from organisations looking to reduce the plastic pollution and high CO2 emissions associated with bottled water, and supports Waterlogic’s long-term growth, relevancy and financial standing in the marketplace.

Waterlogic has annualised revenues of c. $400M and c. 550k water dispensers on rental and service contracts across 17 direct markets and employs over 3,000 people worldwide. Waterlogic was advised on the transaction by Goldman Sachs International, Skadden (legal), PwC (financial and commercial), Deloitte (tax), L.E.K. (commercial), and EY (Luxembourg legal).

Media Contact

Rosanna Turner, Group Marketing Communications Manager
rosanna.turner@waterlogic.com

 

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and solutions designed for environments such as offices, factories, hospitals, restaurants, hotels, schools and public spaces. From freestanding, countertop and integrated dispensers to water filling stations, fountains and boilers, every solution focuses on delivering the best quality water in the most sustainable way. Founded in 1992, Waterlogic was one of the first companies to introduce mains-fed dispensers to customers worldwide and has been at the forefront of the market promoting product design and water quality, the application of proprietary technologies, sustainability and world-class sales and service. Waterlogic has its own subsidiaries in 17 countries and its leading markets are the U.S., Australia and Western Europe, in particular the UK and Germany. In addition, Waterlogic’s extensive and expanding independent global distribution network reaches over 50 countries around the world in North and South America, Europe, Asia, Australia and South Africa. More information can be found at www.waterlogic.com.

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KKR and XPV Water Partners Form New Platform to Promote Water Quality

KKR

NEW YORK–(BUSINESS WIRE)–Dec. 3, 2019– KKR, in partnership with XPV Water Partners, today announced the formation of a wastewater treatment platform with the goal of creating the leading provider of end-to-end nutrient management solutions for municipal and industrial wastewater treatment facilities. Through the foundational acquisitions of Environmental Operating Solutions, Inc. (“EOSi”) and Nexom, Inc. – two providers of nutrient management technologies – the platform aims to address nutrient contamination of water globally by building a diversified and growing portfolio of leading solutions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191203005263/en/

Over the past 50 years, agricultural runoff from increased use of fertilizers, stormwater runoff from more development and rainfall, and wastewater effluent from municipal and industrial plants have combined to produce a concentration of nutrients in downstream water bodies. Excess nutrients can cause eutrophication and subsequent toxic algae blooms, resulting in loss of aquatic life, human health concerns and other environmental and economic damage. The Environmental Protection Agency has named nutrient pollution “one of America’s most widespread, costly and challenging environmental problems,” with 53% of rivers, 71% of lake acres, 79% of estuary square miles and 98% of great lakes shoreline miles classified as impaired.

“We are pleased to be working with XPV to scale solutions to water pollution. XPV is a thought leader in the water sector with deep connectivity across key stakeholders. Together, we are focused on expanding this platform to promote water quality,” said Robert Antablin and Ken Mehlman, Co-Heads of KKR Global Impact.

“The challenges associated with nutrient management are compounding every year. We view the formation of this platform as a game-changing next step in our strategy: to build a global end-to-end supplier of the products and services that municipal and industrial operators need to solve nutrient management challenges. We look forward to continuing this journey with the EOSi and Nexom teams, alongside KKR, to help drive the next phase of growth of this exciting new platform,” said David Henderson, Partner, XPV Water Partners.

For KKR, the investment is part of the Firm’s Global Impact strategy, which is focused on identifying and investing behind companies whose core business models provide commercial solutions that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals. By reducing pollution and improving water quality, this newly created platform will deliver measurable progress toward achieving the United Nations SDG #6, ensuring the availability and sustainable management of clean water.

The platform is the fifth investment out of KKR’s Global Impact strategy, following investments in Burning Glass, KnowBe4, Ramky Enviro Engineers Limited and Barghest Building Performance. Over the last decade, KKR has been a leader in driving and protecting value throughout the firm’s private markets portfolio through thoughtful Environmental, Social and Governance (“ESG”) management, as well as measuring and reporting on performance to the public and investors.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About XPV Water Partners

XPV Water Partners is comprised of experienced water entrepreneurs, operators, and investment professionals dedicated to make a difference in the water industry. XPV invests in and actively supports water-focused companies to enable them to grow and deliver value for all stakeholders. XPV manages over $400 million USD in investment capital from institutional investors in North America, Europe and Asia. For more information, visit www.xpvwaterpartners.com and on Twitter @XPVwater.

About EOSi

Based in Bourne, Massachusetts, EOSi provides non-hazardous and environmentally sustainable glycerin-based chemicals (“MicroC”) and technical services for biological nutrient removal applications in wastewater systems. EOSi offers superior product quality, technical support and a high level of service to municipal and industrial wastewater treatment plant operators.

About Nexom

Based in Winnipeg, Canada, Nexom provides proven technologies that enable new and existing wastewater treatment plants to meet their nutrient reduction targets. Nexom has developed or acquired seven biological or filtration based technologies, all of which are used to treat wastewater to meet exceedingly strict discharge standards. Nexom benefits from a strong portfolio of products with technical differentiation in certain use cases and a portfolio of references (700+ successful installations).

Source: KKR

Media
KKR:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

XPV Water Partners:
Mike Stadnyckyj
416.864.0475 x 308
media@xpvwaterpartners.com

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