Funds managed by Castik Capital S.à r.l. (“Castik”) have entered into an agreement to acquire a majority stake in WATR Group, a market leader in groundwater management and (ground-)water purification from funds advised by Borromin Capital. WATR Group’s CEO Steffen Saur will continue to lead the business together with his executive management team, who will be investing into the business as part of the transaction.
WATR Group has developed into a leading group of water management specialists in Germany and the Netherlands, encompassing dewatering and groundwater management services, mobile water purification, temporary pump installations as well as related ground protection products. The business is one of the leading providers of dewatering services for infrastructure construction projects, and is helping the industrial and construction sectors meet environmental and sustainability standards for water management and treatment.
WATR Group plans to continue pursuing an ambitious growth strategy focused on expanding its capacities and capabilities in its core business of dewatering and related water purification services, as well as in adjacent water treatment and management areas. The group plans to invest in its home markets of the Netherlands and Germany, while also evaluating opportunities to grow into new geographies, both organically and through further strategic acquisitions.
“We believe Castik will be a great partner to support us in capturing the growth opportunity in front of us, and in expanding our capacities and capabilities in adjacent areas of (ground-)water management, both organically and via M&A. We see strong demand in the market for both dewatering and advanced water treatment services across end industries, and we would like to continue to fully meet our customers’ expanding needs around water management. We are looking forward to a close cooperation with the Castik team in the coming years.” says Steffen Saur, CEO of WATR Group.
The Castik team comments:“We are very much looking forward to developing the company together with WATR Group’s management team, and would like to thank them for the trust they are placing in us. WATR Group’s services are essential to the expansion and modernization of the German and Dutch energy infrastructure that is required to achieve the national and European sustainability and energy transformation objectives. We will support the WATR team both in further growing the existing business and in expanding WATR’s capabilities in adjacent water treatment and management areas.”
Castik was advised on the transaction by Raymond James, Roland Berger, PWC and Skadden, Arps, Slate, Meagher and Flom.