M&A Deal Summary

British Columbia Investment Management, NB Private Equity Partners, StepStone Private Equity and Ardian Acquire Waterlogic

On January 28, 2020, asset manager British Columbia Investment Management, asset manager NB Private Equity Partners, private equity firm StepStone Private Equity and private equity firm Ardian acquired utilities company Waterlogic from Castik Capital

Acquisition Highlights
  • This is British Columbia Investment Management’s 2nd, NB Private Equity Partners’ 1st, StepStone Private Equity’s 1st and Ardian’s 6th transaction in the Utilities sector.
  • This is British Columbia Investment Management’s 3rd, NB Private Equity Partners’ 2nd, StepStone Private Equity’s 1st and Ardian’s 25th transaction in the United Kingdom.

M&A Deal Summary
Date 2020-01-28
Target Waterlogic
Sector Utilities
Buyer(s) British Columbia Investment Management
NB Private Equity Partners
StepStone Private Equity
Ardian
Sellers(s) Castik Capital
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs
PwC Corporate Finance LLC (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Waterlogic

Berkshire, United Kingdom
Waterlogic is a designer, manufacturer, distributor and operator of mains attached point-of-use ("POU") drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants, and other workplaces. Waterlogic was established in 1992 and is based in Berkshire, United Kingdom.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 4

Buyer

British Columbia Investment Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1999
PE ASSETS 21.9B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.

DEAL STATS #
Overall 11 of 19
Sector (Utilities) 2 of 2
Type (Secondary Buyout) 6 of 9
Country (United Kingdom) 3 of 5
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-08 Valence Surface Technologies

El Segundo, California, United States

Valence Surface Technologies. is a provider of aerospace surface finishing services, which has historically been a highly fragmented, geographically focused, and technically challenging part of the supply chain. The company was built to offer a differentiated, full-service, supply chain solution for critical, complex parts to the aerospace industry, delivering the lead times, capacity, and technical resources needed to match growing aircraft build rate demand. Valence Surface Technologies was founded in 1957 and is based in El Segundo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 ClearMacro

London, United Kingdom

ClearMacro Ltd. is a software analytics company provides investment analytics tools to asset managers and other professional investors to make quicker, better informed, and more consistent investment decisions as well as mitigate well-documented human biases. ClearMacro is based in London, United Kingdom.

Buy -
Buyer

NB Private Equity Partners

Investor Investor Investor Investor Investor

Category Asset Manager
Size Large
Type Sector Agnostic
DESCRIPTION

NB Private Equity Partners is a publicly traded asset manager focused on acquiring direct investments in privately held companies. The Firm principally targets businesses in the US and looks to invest alongside other private equity managers when considering opportunities. NB Private Equity Partners is headquartered in the UK, with an additional office in the US.

DEAL STATS #
Overall 25 of 27
Sector (Utilities) 1 of 1
Type (Secondary Buyout) 13 of 14
Country (United Kingdom) 2 of 3
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-22 Kroll

New York, New York, United States

Kroll is an independent financial advisory and investment banking firm, offering a broad range of consulting and advisory services to public and private companies. With more than 1,200 professionals serving clients worldwide. Kroll was founded in 1932 and is based in New York City.

Buy $4.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 Engineering Ingegneria Informatica

Roma, Italy

Engineering Ingegneria Informatica is an IT services provider focused on digital transformation with more than 11,000 professionals in 65 locations across the world. The Group designs develops and manages innovative IT solutions for business areas where digitalization is having the biggest impact. Engineering Ingegneria Informatica was founded in 1980 and is based in Roma, Italy.

Sell -
Buyer

StepStone Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Large
Type Sector Agnostic
DESCRIPTION

StepStone Private Equity is the private equity arm of StepStone Global, a global alternative investment and asset management firm. StepStone Private Equity manages and makes fund investments as well as co-invests in direct opportunities spanning buyout, venture, distressed, private debt, and energy. StepStone Private Equity is based in La Jolla, California.

DEAL STATS #
Overall 5 of 6
Sector (Utilities) 1 of 1
Type (Secondary Buyout) 1 of 2
Country (United Kingdom) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 Strata Fund Solutions

Salt Lake City, Utah, United States

Strata Fund Solutions is a full-service administration company providing high-quality administration and consulting services to the alternative investments industry. Strata Fund's focus is on unparalleled service to hedge funds, private equity funds, funds of funds, and managed accounts. Strata Fund Solutions was founded in 2008 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Strata Fund Solutions

Salt Lake City, Utah, United States

Strata Fund Solutions is a full-service administration company providing high-quality administration and consulting services to the alternative investments industry. Strata Fund's focus is on unparalleled service to hedge funds, private equity funds, funds of funds, and managed accounts. Strata Fund Solutions was founded in 2008 and is based in Salt Lake City, Utah.

Sell -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 360 of 418
Sector (Utilities) 6 of 7
Type (Secondary Buyout) 116 of 137
Country (United Kingdom) 25 of 26
Year (2020) 2 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Frulact

Gemunde - Maia, Portugal

Frulact is a producer of natural fruit-based and plant-based specialty ingredients for the Food & Beverage industry. The Group has a global presence across three continents, with nine business units in five countries (Portugal, Morocco, France, South Africa, and Canada). Frulact was founded in 1987 and is based in Gemunde - Maia, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-03 CLS

Ramonville Saint-Agne, France

CLS is a global company and a pioneer in providing Earth monitoring and surveillance solutions. Its mission is to develop and deploy innovative solutions to understand and protect our planet and manage its resources sustainably. The company operates in five strategic areas of activity: environment and climate monitoring; sustainable management of fisheries; fleet management; energy, mining, and infrastructure; and maritime security. CLS was formed in 1986 and is based in Ramonville Saint-Agne, France.

Sell -

Seller(S) 1

SELLER

Castik Capital

Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 1.3B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Castik Capital Partners advises Luxembourg based Castik Capital, the manager of the EPIC Funds. Castik seeks public and private investment opportunities throughout Europe where the Firm can commit €100 to €300 million per transaction. Castik was formed in 2014 and is based in Luxembourg.

DEAL STATS #
Overall 3 of 6
Sector (Utilities) 1 of 1
Type (Secondary Buyout) 1 of 2
Country (United Kingdom) 1 of 2
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-26 AddSecure

Stockholm, Sweden

AddSecure is a provider of IoT solutions with a focus on secure critical communications and data. AddSecure offers solutions within Smart Alarms, Smart Rescue, Smart Grids and Smart Transport. AddSecure was founded in 1979 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 CPA Global

Jersey, Channel Islands

CPA Global is an intellectual property (IP) management and technology company serving over 10,000 customers and connecting millions of global IP users every day. CPA Global was founded in 1969 and is based in Jersey, Channel Islands.

Sell -
Mergr

Product

Company

Legal