Baird acquires Clearwater

The acquisition was made through the GP's Baird Capital Partners Europe Fund II, and will see Baird managing director James Benfield join the company's board of directors.

Baird told unquote" RBS provided senior financing for the deal, as well as a line of credit for acquisitions. The latter will form part of Clearwater's growth strategy.

According to the GP, the deal was sourced through Spectrum Corporate Finance's Simon Davies, who introduced Baird to Clearwater.

Company
Founded in 1990, Surrey-based Clearwater provides water treatment, hygiene, engineering and pump services across the UK.

It provides services to a range of sectors, including food and beverage, pharmaceutical and industrial, as well as the public sector.

The company is expected to generate revenues of £30m this financial year.

People
James Benfield is the managing director of Baird Capital and Guy Rowley is the CEO of Clearwater.

Advisors
Equity – Eversheds (Legal); PwC (Financial due diligence); CIL Management Consultants (Financial due diligence).
Company – Shoosmiths (Legal); Spectrum Corporate Finance (Corporate finance, Debt advisory).
Debt – Osborne Clarke (Legal).

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• Topics
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• Baird Capital Partners Europe Ltd
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