M&A Deal Summary

Mitsubishi, JGC Holdings and Manila Water Acquire TRILITY Pty

On May 11, 2010, Mitsubishi, JGC Holdings and Manila Water acquired utilities company TRILITY Pty from United Utilities Group for 225M AUD

Acquisition Highlights
  • This is Mitsubishi’s 1st, JGC Holdings’ 2nd and Manila Water’s 1st transaction in the Utilities sector.
  • This is Mitsubishi’s 2nd, JGC Holdings’ and Manila Water’s largest (disclosed) transaction.
  • This is Mitsubishi’s 2nd, JGC Holdings’ 1st and Manila Water’s 1st transaction in Australia.

M&A Deal Summary
Date 2010-05-11
Target TRILITY Pty
Sector Utilities
Buyer(s) Mitsubishi
JGC Holdings
Manila Water
Sellers(s) United Utilities Group
Deal Type Add-on Acquisition
Deal Value 225M AUD

Target

TRILITY Pty

Adelaide, Australia
website
TRILITY is a water utility service provider with capabilities covering the full life cycle of water through wastewater treatment, reuse and desalination projects. Our skills are built around delivery of services including project finance, Design and Construction (D&C), Operation and Maintenance (O&M), asset management and utility services. We operate throughout Australia and across the resources, industrial and municipal sectors.

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Buyer(S) 3

Buyer

Mitsubishi

Tokyo, Japan

website

Category Company
Founded 1950
Sector Diversified
Employees65,975
Revenue 17,264.8B JPY (2022)
DESCRIPTION

Mitsubishi is a diversified holding company,Mitsubishi engages in Global Environmental & Infrastructure,Bushiness Service, Industrial Finance, Logistics & Development, Energy Business, Metals, Machinery,Chemicals and Living Essentials Business. Mitsubishi was founded in 1950 and is based in Tokyo, Japan.

DEAL STATS #
Overall 5 of 15
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 3 of 8
Country (Australia) 2 of 2
Year (2010) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-31 Flexitech

Saint-Andre-le-Puy, France

Flexitech is a global designer and supplier of high quality brake hose products for the automotive industry. Flexitech was founded in 1960 and is based in Saint-Andre-le-Puy, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-18 Digital Direct

Tokyo, Japan

Digital Direct Corp. engages in TV shopping, catalogue mail-order, and E-commerce.

Sell -
Buyer

JGC Holdings

Yokohama, Japan

website

Category Company
Founded 1928
Sector Construction
Employees7,371
Revenue 428.4B JPY (2022)
DESCRIPTION

JGC Holdings provides engineering and construction services for various plant and facilities projects in Japan and internationally.The JGC Group, with its core business of engineering-based services, reaffirms its corporate policy of pursuing the highest standards of performance and achieving enduring growth as a globally-active company, while contributing to world economic and social prosperity as well as to the conservation of the earth's environment. JGC Holdings was founded in 1928 and is based in Yokohama, Japan.

DEAL STATS #
Overall 3 of 4
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 1 of 1
Country (Australia) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-11 A2 Independent Water and Power Project

Abu Dhabi, United Arab Emirates

A2 Independent Water and Power Project consisting of CCGT (Combined Cycle Gas Turbine) power units and MSF distiller units, is located in the Taweelah district of the Emirate of Abu Dhabi and produces 710 MW of power and 50 MIGD of water. It has been in commercial operation since 2001, with more than seven accumulated years of safe and stable operations characterized by excellent energy efficiency and environmental performance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-20 M.W. Kellogg

Leatherhead, United Kingdom

M.W. Kellogg Ltd. is a provider of engineering, construction, operations and maintenance and project development and management services.

Sell -
Buyer

Manila Water

Quezon City, Philippines

website

Category Company
Founded 1997
Sector Utilities
Revenue 20.3B USD (2020)
DESCRIPTION

Manila Water Company, Inc. is a provider of water and wastewater services to more than six million people in the East Zone of Metro Manila, comprising a broad range of residential, commercial and industrial customers. Manila Water was founded in 1997 and is based in Quezon City, the Philippines.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Australia) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

United Utilities Group

Warrington, United Kingdom

website

Category Company
Founded 2008
Sector Utilities
Employees6,000
Revenue 1.9B GBP (2022)
DESCRIPTION

United Utilities Group is a provider of water and waste water services to people. United Utilities Group was founded in 2008 is based in Warrington, the United Kingdom.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Australia) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-15 VertexOne

Richardson, Texas, United States

VertexOne is a provider of customer information system (“CIS”) software and integration services to the mid-market public and investor-owned utility industry. VertexOne was founded in 1996 and is based in Richardson, Texas.

Sell $405M
Mergr

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