Agilitas acquires Hydro International

The GP said in a statement that it intends to capitalise on the increasing public sector demand for services related to water scarcity as a result of population growth, increasing urbanisation and climate change. The business will pursue an international expansion strategy and look to diversify its range of products and services.

Financial details of the transaction remain undisclosed, though Agilitas is currently investing from its 2015 fund, which closed on $67.75m.

As part of the deal, Agilitas partner Torbjorn Midsem will take a seat on the Hydro board of directors. The company's CEO, Michael Jennings, will take on the role of non-executive chairperson.

Debt
EQT Credit and Lloyds Bank provided a debt package to support the transaction.

Company
Founded in 1980 and headquartered in Clevedon, Somerset, Hydro provides products and services related to wastewater treatment and the control of stormwater. Its clients predominantly operate in the municipal, industrial and construction sectors. It has a headcount of 219 with the majority of its operations in the UK, Maine and Oregon.

People
Agilitas Private Equity – Martin Calderbank (managing partner); Torbjorn Midsem (partner).
Hydro International – Michael Jennings (non-executive chairperson).

Advisers
Equity – William Blair (corporate finance, debt advisory); PwC (financial due diligence); KPMG (tax); CIL Management Consultants (commercial due diligence); Amane Advisors (IT due diligence); Ashurst (legal); Mercer (management due diligence); Marsh (insurance due diligence).
Management – FRP Advisory (corporate finance); Burges Salmon (legal); Thompson Hine (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Industrials
• United Kingdom
• Agilitas
• William Blair
• PwC
• KPMG