M&A Deal Summary

CDPQ and Suez Acquire GE Water & Process Technologies

On March 8, 2017, asset manager CDPQ and Suez acquired environmental company GE Water & Process Technologies from General Electric for 3.4B USD

Acquisition Highlights
  • This is CDPQ’s 1st and Suez’s 1st transaction in the Environmental sector.
  • This is CDPQ’s 5th and Suez’s largest (disclosed) transaction.
  • This is CDPQ’s 4th and Suez’s 2nd transaction in the United States.
  • This is CDPQ’s 1st and Suez’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2017-03-08
Target GE Water & Process Technologies
Sector Environmental
Buyer(s) CDPQ
Suez
Sellers(s) General Electric
Deal Type Divestiture
Deal Value 3.4B USD

Target

GE Water & Process Technologies

Trevose, Pennsylvania, United States
website
GE Water & Process Technologies engages in the provision of equipment, chemicals and services for the treatment of water and wastewater. In order to address its industrial clients’ increasingly complex needs, GE Water invests heavily in research and development of unique solutions. Its innovative technology has made it one of the most sophisticated players in its industry. GE Water & Process Technologies is based in Trevose, Pennsylvania.

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Buyer(S) 2

Buyer

CDPQ

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.

DEAL STATS #
Overall 30 of 98
Sector (Environmental) 1 of 4
Type (Divestiture) 1 of 5
State (Pennsylvania) 1 of 1
Country (United States) 4 of 24
Year (2017) 2 of 15
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-02 5N Plus

Montreal, Quebec, Canada

5N Plus is a producer of specialty metal and chemical products. Fully integrated with closed-loop recycling facilities. 5N Plus manufactures critical precursors and key enablers used in a number of industries such as clean energy, electronic, pharmaceutical, medical imaging, paint pigments, security and surveillance. Company is headquartered in Montreal, Quebec, Canada and operates manufacturing facilities and sales offices in Europe, the Americas and Asia. 5N Plus is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-17 USI Insurance Services

Valhalla, New York, United States

USI Insurance Services is a provider of a fully integrated distribution of general and specialty property and casualty insurance and financial services such as employee benefits outsourcing and related consulting. USI Insurance Services was founded in 1994 and is based in Valhalla, New York.

Buy $4.3B
Buyer

Suez

Paris, France

website

Category Company
Founded 1869
Sector Utilities
Revenue 17.2B EUR (2020)
DESCRIPTION

Suez Environment supplies drinking water to 92 million people, provides waste water treatment services for 65 million people and collects the waste produced by 52 million people. Suez was founded in 1869 and is based in Paris, France.

DEAL STATS #
Overall 5 of 11
Sector (Environmental) 1 of 5
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 2 of 3
Year (2017) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-05 Poseidon

Canada

Poseidon designs and manufactures compact separator systems by flotation for industrial water treatment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-27 Quality Circular Polymers

Geleen, Netherlands

Quality Circular Polymers is a manufacturer of polymers of high and consistent quality based on used plastics. Reliable supply, integration, leading technologies and innovative recipes enable QCP to push the circular plastics industry to the next level.

Buy -

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States

website

Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 67.6B USD (2023)
DESCRIPTION

General Electric is a diversified technology and financial services corporation. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 33 of 44
Sector (Environmental) 1 of 1
Type (Divestiture) 28 of 38
State (Pennsylvania) 2 of 2
Country (United States) 25 of 34
Year (2017) 2 of 3
Size (of disclosed) 4 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Integral Aerospace

Santa Ana, California, United States

Integral Aerospace is a manufacturer of flight critical subsystems and components of military and commercial aircraft. The Company provides detailed manufacturing solutions through composite manufacturing, filament winding of pressure vessels, hard metals machining and sub-system assemblies, from rapid proto-typing through testing and qualification. Integral Aerospace is based in Santa Ana, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-24 Gesat

Dammam, Saudi Arabia

Gesat manufactures heavy duty gas turbines, accessory module skids, and components. Gesat was established in 2017 and is based in Dammam, Saudi Arabia.

Buy -
Mergr

Product

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