EQT, through its Infrastructure VI fund, has reached a definitive agreement to acquire Seven Seas Water Group, a leading provider of decentralised water and wastewater treatment solutions across the United States, the Caribbean, and Latin America, according to a report by Bloomberg.
The transaction sees EQT purchasing the business from Morgan Stanley Infrastructure Partners.
Although financial details were not officially disclosed, sources close to the matter indicate the deal implies an enterprise value exceeding $1bn, including debt.
Headquartered in Tampa, Florida, and Houston, Texas, Seven Seas operates a portfolio of over 200 water and wastewater treatment facilities. The company plays a vital role in addressing growing demand for resilient and sustainable water infrastructure amid intensifying climate conditions and regional development trends.
The acquisition highlights continued investor interest in the water infrastructure sector, which has seen heightened M&A activity driven by public infrastructure investment and rising industrial demand. Notably, Veolia Environnement recently agreed to acquire the remaining stake in Water Technologies & Solutions for $1.75bn, and KKR led a recapitalisation effort for Thames Water earlier this year.
EQT was advised by RBC Capital Markets and A&O Shearman. Following this transaction, the EQT Infrastructure VI fund is expected to be between 50% and 55% deployed.
