EQT Infrastructure in Key Talks to Sell 50% Stake in Saur to PGGM and DIF
Posted on 12/28/2022
EQT Infrastructure III and IV funds have entered exclusive negotiations to sell 50% of its stake in Saur to a consortium composed of global infrastructure fund manager DIF Capital Partners and the Dutch pension fund service provider PGGM. The consortium members will each acquire 25 percent of EQT Infrastructure’s shares. Headquartered in Paris, France, Saur is a service provider in the global water sector, working alongside thousands of municipalities across the globe to deliver drinking water and collect wastewater for more than 20 million people. In addition, through its Industrial Water division, the Company provides integrated water infrastructure solutions to hundreds of international blue-chip customers. Saur is present in more than 20 countries and enjoys strong market positions with long-term contracts in France, Portugal, Spain, and the Middle East.
Since the acquisition by EQT Infrastructure in 2018, Saur has undergone a commercial and operational transformation along with a refocus on core activities and geographical growth. EQT Infrastructure has supported the launch of a new organizational structure, accelerated organic and inorganic growth through the completion of 15 add-on acquisitions, while supporting expansion to Portugal and North America.
The transaction is subject to customary conditions and approvals and is expected to close in Q2 2023.
EQT Infrastructure was advised by Rothschild & Co. PGGM and DIF were advised by UBS.
Keywords: EQT Partners AB.