EQT Infrastructure enters exclusive negotiations with DIF Capital Partners and PGGM to sell 50 percent of its stake in Saur
- EQT Infrastructure enters exclusive negotiations with a consortium composed of DIF Capital Partners and PGGM to sell 50 percent of its stake in Saur, a leading provider of water services management solutions inFranceand internationally
- Saur plays an essential part in the societies it operates in, fuelled by its mission to protect and preserve water availability and quality, while minimizing discharge through efficient wastewater recycling
- The broadened shareholder base adds new resources and expertise to support the continued long-term development of Saur's pure-play water infrastructure platform
STOCKHOLM,Dec. 28, 2022/PRNewswire/ -- EQT is pleased to announce that the EQT Infrastructure III and IV funds (together, "EQT Infrastructure") have entered exclusive negotiations to sell 50 percent of its stake in Saur (the "Company") to a consortium composed of global infrastructure fund manager DIF Capital Partners and the Dutch pension fund service provider PGGM (together, "the Consortium"). The Consortium members will each acquire 25 percent of EQT Infrastructure's shares.
Headquartered inParis, France, Saur is a leading innovator and 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 inFrance,Portugal,Spain, and theMiddle East.
Since the acquisition by EQT Infrastructure in 2018, Saur has undergone a successful 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 toPortugalandNorth America.Moreover, EQT Infrastructure has helped develop the Company's new Industrial Water division, while implementing an ambitious ESG strategy and digitalization roadmap.
EQT Infrastructure, DIF and PGGM are committed to investing in Saur's long-term development, providing the necessary resources and expertise to secure stability and continuous growth over the coming years. Saur is set to continue its strategic 2030 agenda focused on reinforcing its core water infrastructure activities inFranceand Iberia, while accelerating organic and inorganic geographic expansion and further developing its Industrial Water Solution division.
For PGGM Infrastructure Fund this acquisition contributes to the overall ambition of PGGM to invest its client PFZW's pension capital in such a way that good and stable financial returns are combined with positive social benefits that improve livability. At the end of Q3 2022, PGGM had investedEUR 44.9 billionin Sustainable Development Investments across different asset classes, of whichEUR 1.52 billionhas been in water-related investments (SDG 6) in different parts of the world.
Delivering returns responsibly is one of the goals of DIF's investment and asset management strategy, and the envisaged investment in Saur perfectly fits in this approach. DIF already has a strong footprint in water and energy transition investments as part of the more thanEUR 15 billionin assets that it manages.
Matthias Fackler, Partner within EQT Infrastructure's Advisory Team, said, "In times of rising concerns around water scarcity, Saur is a critical pillar in the societies it operates in, providing local municipalities and their citizens with clean drinking water and efficient wastewater treatment. EQT Infrastructure is proud of Saur's development so far and we now look forward to entering its next phase of growth journey together with our new partners PGGM and DIF Capital Partners."
帕特里克•Blethon阿富汗二月集团的执行主席said, "EQT Infrastructure has been and will continue to be our partner in the construction and execution of the group's transformation and growth acceleration strategy, mobilizing its platform to serve our corporate project. Welcoming PGGM and DIF Capital Partners onboard alongside EQT Infrastructure represents a great opportunity for Saur to develop faster and stronger."
Dennis van Alphen, Head of Infrastructure at PGGM, said, "In today's investment environment it is more and more important that pension capital is invested not just for financial return but to make an active contribution to society's challenges. The envisaged investment in Saur is a seamless fit with that strategy, providing communities and companies across the world with access to clean water. We are excited to embark on this journey with our partner DIF Capital Partners and EQT Infrastructure."
Gijs Voskuyl, Partner and Head of Infrastructure at DIF Capital Partners, said, "DIF is very excited to partner with PGGM and EQT Infrastructure in this transaction in the water sector. Saur has a very sizable and largely concession-based position in the French and Iberian Peninsula water sector and has strong growth potential, especially in the industrial water space. DIF firmly believes in Saur's management team and looks forward to jointly growing the company towards being a sustainable leader in the industry."
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.
Contacts
EQT Press Office,[email protected],+46 8 506 55 334
DIF Capital Partners,Thijs Verburg,[email protected],www.dif.eu
PGGM Corporate Communications,Ellen Habermehl,[email protected], +31 (0)30 277 97 35,www.pggm.nl
About EQT
EQT is a purpose-driven global investment organization withEUR 114 billionin assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets inEurope,Asia-Pacificand the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
More info:www.eqtgroup.com
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AboutSaur
As a pure player in water and essential services, Saur works to protect the environment in the heart of the territories it serves. Saur has always acted to offer the same quality of service to small towns as to large cities, guided by its purpose: to advocate that everyone gives water the value it deserves. Saur worldwide presence:Cyprus,Finland,France,Italy,Netherlands,Poland,Portugal,Saudi Arabia,Spain,United-Kingdom,United States of America.2021关键人物:€17亿集团净收入, 9,500 local authorities and industrial clients contracted, 12,000 employees and 20 million consumers served worldwide. #missionwater
About PGGM Investment Management
PGGM Investment Management is part of the Dutch not-for-profit pension fund service provider PGGM. It fulfills a social mandate: the sustainable investment of the pension capital of around three million participants in PFZW, the pension scheme for the Dutch health and welfare sector. On30 September 2022, PGGM IM managedEUR 231 billionin public and private markets globally. With the capital entrusted to PGGM IM, it aims to not only generate good and stable financial returns but also to make a positive impact on society, focusing particularly on the themes of climate and health.
More information on PGGM IM:https://www.pggm.nl/media/ftfdyv5j/integrated-report-pggm-vermogensbeheer-b-v-2021.pdf
About DIF Capital Partners
DIF Capital Partners is an independent infrastructure fund manager with more thanEUR 15 billionof AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily inEurope,North AmericaandAustralia.
DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (including renewables) and utilities sector, as well as PPPs and concessions. The firm's CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.
With a team of over 200 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located inAmsterdam(Schiphol),Frankfurt,Helsinki,London,Luxembourg,Madrid, New York,Paris,Santiago,SydneyandToronto.
For more information please visitwww.dif.eu.
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