Wateralia shifts to Ambienta IV and the continuation fund Ambienta

Ambienta III, a fund managed by Ambienta SGR specializing in environmental sustainability investments, has divested Wateralia to Ambienta IV and Ambienta Water Pumps, a continuation fund with approximately €500 million managed by Ambienta. The transaction also involved a reinvestment by Wateralia's management and the founding families of Caprari and Calpeda, which are controlled by Wateralia. The deal was backed by lead investors Lexington Partners and Stepstone. Several advisory firms played key roles in structuring and negotiating this transaction. Linklaters assisted Ambienta on the Italian aspects of Wateralia's sale, agreements with the founding families, and management. Kirkland & Ellis negotiated with the lead investors. Advant Nctm structured and marketed the continuation fund, working with institutional investors. Facchini Rossi Michelutti advised on fiscal aspects, while Pwc TLS assisted the Caprari and Calpeda families. Additionally, Grimaldi Alliance supported the Majolo family's reinvestment. Financing for the acquisition was secured through a bond issue underwritten by Blackstone-managed funds and bank financing from Intesa Sanpaolo Bank Luxembourg. Greenberg Traurig and White & Case assisted in legal and banking aspects of the bond and debt refinancing.