Tag Archives: Water management

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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Waterlogic acquires Minnesota Water and Water Engineering Technologies

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisitions of Minnesota Water and Water Engineering Technologies.

Minnesota Water, based in Maplewood, Minnesota, has been a leading provider of PHSI point-of-use water coolers since 2012. The acquisition provides Waterlogic with a direct operation in the Minneapolis-St. Paul area, increasing Waterlogic’s direct service and sales presence to 50 markets throughout the U.S. and Canada including all the top 40 U.S. Metropolitan Statistical Areas.

Steve and Shelly Norenberg, owners of Minnesota Water, said, “We are delighted to have completed the sale of our business to Waterlogic. We could not have found a better option for our customers, our employees, or our family. We appreciated how honest and transparent Waterlogic was throughout the process and we will be excited to see the business grow under Waterlogic’s ownership.”

Water Engineering Technologies (W.E.T.) is a premium provider of point-of-use water coolers, headquartered in Burien, Washington since 1998. The acquisition of W.E.T.’s business strengthens Waterlogic’s market presence in the Pacific Northwest, allowing for increased and more efficient customer reach in this important market.

Chuck Lockart, Owner, Water Engineering Technologies, said, “Waterlogic was great throughout the process and I am very pleased with the transaction. I have a lot of long-time customers and I know that they will be in good hands with Waterlogic.”

With these two acquisitions, Waterlogic has now completed five acquisitions in the U.S. and Canada in the last nine months:

  • Pure Water Technology of the Inland Empire – Redlands, California
  • Streamline Water – El Paso, Texas
  • Just Pure Water – Toronto, Ontario
  • Water Engineering Technologies – Seattle, Washington
  • Minnesota Water – Minneapolis, Minnesota

With these acquisitions, and a strong focus on organic growth, Waterlogic services nearly 100,000 point-of-use coolers throughout North America, delivering on its customer promise of ‘hassle free, great tasting water, every day’.

 

“I am thrilled to add these two excellent companies to Waterlogic Americas,” said Casey Taylor, CEO Waterlogic Americas. “With Minnesota Water, we expand our presence in Minneapolis to help us provide even better service in the Twin Cities. Likewise, combining Water Engineering Technologies with our existing Seattle branch will allow us to reach more customers in the Pacific Northwest. We are adding outstanding employees from each company, with significant experience and expertise, making our team even stronger.”

Waterlogic remains dedicated to growth in the Americas, both through organic sales and through acquisition.

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Minnesota Water and W.E.T. are the most recent acquisitions as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Spain, France, Germany, and Scandinavia.

 

– ENDS –

Media Contact

Rosanna Turner, Group Marketing Communications Manager

rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and operator of Point-Of-Use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.

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IK Investment Partners to sell Evac Group to Bridgepoint

ik-investment-partners

IK Investment Partners (“IK”), a leading European private equity firm, is pleased to announce that the IK VII Fund (“the Fund”) has reached an agreement with private equity funds managed by Bridgepoint (“Bridgepoint”) to sell Evac Group (“Evac” or “the Company”), the world’s leading provider of integrated waste, wastewater, and water management systems for the marine, offshore and building industries.

Evac designs and markets environmentally friendly waste and wastewater collection and treatment systems for the marine, offshore and building industries. The Company has successfully carried out over 20,000 marine, 2,000 offshore and 2,000 building projects for customers around the world. It has employees in Brazil, China, Finland, France, Germany, Korea, Norway, Sweden and the USA, as well as representatives in more than 40 additional countries.

Sustainability is one of the cornerstone of Evac’s operations. The Company’s technologies address the increasing need for innovative cleantech solutions, driven by the megatrends of climate change, the need for energy efficiency, and increasingly scarce freshwater resources. An example of an innovative waste management system is the Evac briquetting unit used for minimising the storage volume of recyclable and non-recyclable dry waste on board vessels. The technology reduces ship waste by a factor of 10.

The IK VII Fund acquired Evac in December 2014 as part of its strategy of acquiring and developing mid cap companies headquartered in Northern Continental Europe. In the course of the Fund’s ownership Evac has achieved strong growth, with company turnover increasing by 55% exceeding MEUR 100 for the first time in the company’s history.

“During the past few years, we have strategically repositioned Evac from a component provider to a fully integrated cleantech solutions supplier, consequently further strengthening the Company’s position as the global market leader. We have only been able to do so with a talented management team at Evac, and we wish them continued success under Bridgepoint’s ownership,” said Kristian Carlsson Kemppinen, Partner at IK Investment Partners and advisor to the IK VII Fund.

“It has been a pleasure working with the IK team. With their support, we have completed two significant add-on acquisitions as well as boldly invested in our in-house development capabilities and product offering, and we now have the largest and most advanced cleantech system portfolio in our sector,” said Tomi Gardemeister, CEO of Evac Group.

Evac is the first exit of the IK VII Fund and the second exit IK has announced in a week. Financial terms of the transaction are not disclosed. Completion of the transaction is subject to legal and regulatory approvals.

Parties involved

Seller Financial advisors: Danske Bank, Carnegie, Alantra
Seller Strategic VDD: Roland Berger
Seller Financial VDD: EY
Seller Legal advisor: Roschier

For further questions, please contact:

IK Investment Partners
Kristian Carlsson Kemppinen, Partner
Phone: +46 8 678 95 00

Mikaela Hedborg, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com 

Evac
Tomi Gardemeister, CEO
Phone: +358 20 763 0200

Carita Lehmusmetsä, Director, Marketing and Communications
Phone: +358 44 761 9559
carita.lehmusmetsa@evac.com  

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Evac
Evac is the world’s leading provider of integrated waste, wastewater, and water management systems for the marine, offshore, and building industries. We have successfully carried out over 20,000 marine, 1,500 offshore and 2,000 building projects for customers around the world. For more information, visit www.evac.com

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