Wateralia's Continuation Fund Rises with Ambienta's Guidance

Deal News | Dec 12, 2024 | Finance Community IT - 3 Private Equity

Ambienta SGR, a prominent European asset manager with a focus on environmental sustainability, announced the divestment of Wateralia, a platform company under Ambienta III fund. This move marks the second divestment for the fund, improving its DPI to approximately 0.8x. Wateralia, created in 2022 by merging Caprari and Calpeda, is sold to Ambienta IV and the Ambienta Water Pumps continuation fund. Wateralia grew significantly under Ambienta’s strategic vision, buoyed by a macrotrend-driven demand for water infrastructure solutions. The transaction involved financial advisors Lazard and Intesa Sanpaolo, financing from Blackstone, and a slew of legal and due diligence services provided by firms such as Kirkland & Ellis and PwC. This showcases Ambienta's ongoing commitment to leveraging environmental and sustainability trends, with Wateralia positioned for continued expansion in the growing water pump sector.

Sectors

Private Equity
Water Infrastructure
Sustainable Investment

Geography

Europe – Ambienta SGR is one of the largest European asset managers focused exclusively on environmental sustainability, making Europe a key geography.
Global – Wateralia, emerging as a global player in the water pumps industry, serves clients in over 140 countries, highlighting a worldwide impact.

Industry

Private Equity – The article describes activities and transactions involving Ambienta SGR, a private equity firm engaged in investing and managing funds focused on sustainability.
Water Infrastructure – Wateralia operates in the design and manufacture of water pumps, making the water infrastructure sector relevant given the product and market focus discussed.
Sustainable Investment – Ambienta’s focus on investing in environmental sustainability, particularly through the water infrastructure sector, aligns with sustainable investment strategies.

Financials

300 million euros – Wateralia's approximate annual revenue.
500 million euros – Size of the Ambienta Water Pumps continuation fund.
0.8x – Distribution to Paid-In Capital (DPI) of the Ambienta III fund following this transaction.

Participants

Name	Role	Type	Description
Ambienta SGR	Private Equity Firm	Company	A major European asset manager entirely focused on environmental sustainability, managing multiple funds including Ambienta III and IV.
Wateralia	Target Company	Company	A global player in the design, development, and production of water pumps, created by merging Caprari and Calpeda.
Lazard	Financial Advisor	Company	Provided financial advice to Ambienta during the transaction.
Intesa Sanpaolo	Financial Advisor	Company	Advised Ambienta in the transaction as part of IMI Corporate & Investment Banking division.
Blackstone Inc.	Financer	Company	Provided financial backing for the transaction.
Kirkland & Ellis	Legal Advisor	Company	Provided legal advisory services for the transaction.
Advant NCTM	Legal Advisor	Company	Part of the legal advisory team for the transaction.
Linklaters	Legal Advisor	Company	Part of the legal team providing services for the transaction.
Lincoln International	Fairness Opinion Provider	Company	Provided fairness opinion to Ambienta IV.
Roland Berger	Commercial Due Diligence	Company	Conducted commercial due diligence for the transaction.
PwC	Financial and Tax Due Diligence	Company	Conducted financial and tax due diligence for the transaction.
Greenberg Traurig	Legal Advisor	Company	Provided legal advice regarding financing aspects of the transaction.
Facchini Rossi Michelutti	Tax Advisor	Company	Provided tax structuring advice.
StepStone Group	Lead Investor	Company	Acted as a lead investor in the continuation fund.
Lexington Partners	Lead Investor	Company	Acted as a lead investor in the continuation fund.
Caprari	Previous Company Component	Company	Merged with Calpeda to form Wateralia.
Calpeda	Previous Company Component	Company	Merged with Caprari to form Wateralia.