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Water Industry Deals and News – Fourth Quarter 2016
February 8, 2017 | WaterThe O’Melveny Quarterly Water Report includes select transactions and other items of interest occurring during the fourth quarter of 2016. Please contact any member of the O’Melveny Water Practice for additional information on any of these items or any related items.
October
In October, the tracked deal volume consisted exclusively of mergers and acquisitions. Water and wastewater treatment facilities continued to attract the most attention, particularly in China. There were also several acquisitions involving consumer-facing water products in the United States, and Japanese desalinization firm Sasakura Engineering increased its investment in the Saudi desalinization sector.
November
In November, the tracked deal volume consisted primarily of mergers and acquisitions, with some activity in public and private financings. Water and wastewater treatment facilities continued to attract the most attention, with consumer water treatment solutions represented as well. Water treatment companies in China, Brazil, and the UK made public offerings to raise capital, while private financings centered on a water purification and a water data analytics company.
December
In December, the tracked deal volume consisted primarily of mergers and acquisitions, with some activity in private financings. Water and wastewater treatment facilities continued to attract the most attention, with consumer drinking water and water utility and infrastructure represented as well. Private financings centered on consumer drinking water, wastewater treatment, and water conservation.
Government
On January 5, 2017, the EPA released its Cabinet Exit Memo and emphasized the continued need for investment in the country’s water infrastructure. Over the course of the outgoing EPA administration, the EPA provided $9.6 billion for drinking water infrastructure projects and $16 billion in funding for wastewater and stormwater infrastructure projects. The EPA estimated that over the next 20 years, more than $655 billion in investment is needed for drinking water and wastewater, as well as additional funding to replace the country’s service lines containing lead.
Public Financings
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Shanghai DaZhong Public Utilities (Group) Co., Ltd.
Shanghai DaZhong Public Utilities (Group) Co., Ltd. November 21, 2016Shanghai DaZhong Public Utilities (Group) Co., Ltd. (SHSE: 600635) will issues shares and intends to use the proceeds raised for investment in piped gas supply, the expansion of wastewater treatment operations, investments in other public utility businesses, and for working capital and general corporate purposes. |
Water Intelligence plc Water Intelligence plc (AIM: WATR), incorporated in England and Wales, issued shares in a capital raising effort. The company intends to use the net proceeds to increase its working capital to support its growth strategy. Water Intelligence owns American Leak Detection, the group’s principal operating subsidiary based in the US. |
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Companhia de Saneamento do Paraná Companhia de Saneamento do Paraná - SANEPAR (BOVESPA:SAPR4), a water utility operating in the Brazilian state of Paraná, announced a share offering in which it intends to use 41.9% of the net proceeds to fund a retirement and voluntary dismissal plan for employees and 58.1% for the expansion of its water and sewage network. The shares may be increased by 20% began trading in the Bovespa Stock Exchange on December 21, 2016. |
Venture Capital & Private Financings
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Ozner Water International Holding Limited Ozner Water International Holding Limited (SEHK: 2014) entered into a subscription agreement with Glorious Shine Holdings Limited. Ozner Water is an investment holding company principally engaged in the provision of water purification services and air sanitization services. Ozner Water expects to raise net proceeds of approximately $69.2 million and intends to use approximately 25% of the proceeds for manufacturing and installation of water purifying machines; approximately 25% of the proceeds for the opening of experience stores; approximately 20% of the proceeds for the acquisition of targets in the water purification and air sanitization industries; approximately 15% of the proceeds to build its distribution network and service platform; and approximately 15% of the proceeds for sales and marketing activities. |
WaterSuite WaterSuite announced that it has received $3 million in a round of funding involving participation from venture capital investor 32 Laight Street Partners. WaterSuite aggregates public and private water data and provides a system of record for water quality managers and operators via a browser-based GIS interface, delivered through a cloud-based software platform. |
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| Twin Oaks Water Systems, Inc.
Twin Oaks Water Systems, Inc. Twin Oaks Water Systems, Inc. announced that it will receive $750,000 in funding pursuant to a private placement of convertible debentures. The debentures will be convertible into common shares of the company. Twin Oaks Water Systems, Inc. is in the energy conservation business and is located in Pennsylvania. |
Divinia Water
Divinia Water Divinia Water announced that it has received $800,000 in its seed round of funding. Divinia Water provides exclusion zone bottled water that is clean, oxygenated, and deuterium depleted.
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China Everbright Water Limited China Everbright Water Limited (SGX:U9E) commenced share repurchases under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2016. As per the mandate, the company is authorized to repurchase up to 260,022,086 shares, representing 10% of the issued ordinary share capital. The share buyback program shall expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required to be held, the date on which the share buy-backs are carried out to the full extent mandated or the date on which the authority contained in the share buyback mandate is varied or revoked. China Everbright Water Limited is an investment and operation company that engages in the integrated environmental water services business in the People’s Republic of China. |
Mergers & Acquisitions
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Zhongshan Water Conservancy Hydropower Kance Design Consultation Zhongshan Water Conservancy Hydropower Kance Design Consultation JSTI Group (SZSE:300284) agreed to acquire a 70% stake in Zhongshan Water Conservancy Hydropower Kance Design Consultation from a group of 14 individuals for approximately $20.3 million. JSTI, headquartered in Nanjing, China, is an engineering services firm focused on research and development, materials, transportation, and water supply. |
Glacier Water Services Inc. Primo Water Corporation (NasdaqGM:PRMW) entered into a definitive merger agreement to acquire Glacier Water Services Inc. (OTCPK:GWSV) for $86 million. Primo Water is a provider of multi-gallon purified bottled water, self-service refill water, and water dispensers. Glacier Water is a provider of drinking water dispensed to consumers through self-service refill water machines. The combined company will continue to be headquartered in Winston-Salem, North Carolina and will have approximately 46,000 retail locations throughout the US and Canada. |
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 Carlsbad Naturals Laguna Blends Inc. (CNSX:LAG) entered into a letter of intent to acquire a 19% stake in Carlsbad Naturals for $0.57 million, with an option to purchase a controlling interest in the future. Carlsbad Naturals produces nanotechnology-enhanced water and vitamin supplements, including a cannabidiol (CBD) water made with hemp. Laguna is a distributer of hemp and CBD products. Laguna’s growth strategy includes acquiring and incubating companies that formulate or manufacture hemp products. After completion of the acquisition of the initial minority interest in Carlsbad, Laguna, will receive exclusive marketing rights for CBD water in the following regions: Canada, Germany, Japan, India, South Korea, and Thailand. |
Avon Water Co. Avon Water Co. Connecticut Water Service Inc. (NasdaqGS:CTWS) entered into an agreement to acquire Avon Water Co. for $36.9 million. Post-acquisition, Avon Water Co. will maintain its separate corporate existence and current name. The transaction remains subject to approval by both the Connecticut Public Utilities Regulatory Authority and the Maine Public Utilities Commission. Avon Water serves roughly 4,800 customers in the Farmington Valley in Connecticut, which is adjacent to areas with existing operations run by Connecticut Water Service. After the transaction, the combined company will serve more than 132,000 water customers and approximately 3,000 wastewater customers in Maine and Connecticut. |
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| Green Compliance Water Division Ltd. Green Compliance Water Division Ltd. Integrated Water Services Ltd. agreed to acquire Green Compliance Water Division Ltd from APC Technology Group plc (AIM:APC) for approximately $1 million. Green Compliance Water Division is a UK-based engineering services firm focusing on water treatment and hygiene, including disinfection, legionella control, risk assessment, and data management. Integrated Water Services provides a range of water engineering services and has been expanding locally through acquisitions since 2010. |
Heilongjiang Qitaihe Wanxinglong Water Co. Ltd. Heilongjiang Qitaihe Wanxinglong Water Co. Ltd. Chongqing Kangda Environmental Protection Industry (Group) Co., Ltd. entered into an equity transfer agreement to acquire Heilongjiang Qitaihe Wanxinglong Water Co. Ltd from Harbin Wanxinglong Industrial Development Co., Ltd. for approximately $17.4 million. Based in Chongqing, China, Chongqing Kangda Environmental designs, operates, and manages sewage and industrial wastewater treatment plants as well as municipal water supply and hydro projects. Heilongjiang owns and operates a wastewater reclamation and treatment facility. |
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| Coalvent Limited Coalvent Limited
Acacia Coal Limited (ASX:AJC) entered into an agreement to acquire Coalvent Limited from its founders for $2.65 million. Under the terms of the agreement, Acacia will acquire all of the shares of Coalvent and thereby gain the right to acquire 74% of Riversdale Anthracite Colliery, with the remaining 26% of Riversdale to be acquired by African Onca Pty Limited. A key component of this coal mine acquisition is the grant of water licenses to carry out the mining processes. |
Yunnan Zhengxiao Environmental Protection Investment Co., Ltd. Yunnan Zhengxiao Environmental Protection Investment Co., Ltd.
Yunnan Water Investment Company Limited (SEHK:6839) entered into the equity transfer agreement to acquire the remaining 40% stake in Yunnan Zhengxiao Environmental Protection Investment Co., Ltd. that it does not own from Yunnan Zhengxiao Cables Co., Ltd. for $33.3 million. Yunnan Water is an investment holding company that develops, designs, constructs, operates, and maintains municipal water supply and wastewater treatment facilities in China. Yunnan Zhengxiao Environmental provides medical waste treatment services in China. |
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 Dong Nai Water Co., Ltd.
Refrigeration Electrical Engineering Corporation (HOSE:REE) sold 6.76 million shares (representing an unknown ownership interest) in Dong Nai Water Co., Ltd., a Vietnamese construction and water supply company for $400,000. Refrigeration Electrical Engineering Corporation provides mechanical and electrical engineering services in Vietnam. |
Galaxy NewSpring Pte. Ltd. Galaxy NewSpring Pte. Ltd.
Yunnan Water (Hong Kong) Company Limited entered into a share purchase agreement to acquire the remaining 50% stake in Galaxy NewSpring Pte. Ltd. it does not currently own from Hyflux Ltd (SGX:600) for $140 million in cash. Post-closing, Galaxy NewSpring will operate as a wholly owned subsidiary of Yunnan Water (Hong Kong). Yunnan Water (Hong Kong) provides municipal water and wastewater services. Singapore-based Galaxy NewSpring constructs, operates, and maintains wastewater facilities in China. Galaxy NewSpring had been a joint venture between Hyflux and Yunnan Water (Hong Kong). |
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 Arabian Company and Sasakura for Water and Power
Sasakura Engineering Co., Ltd. (TSE:6303), a Japanese engineering firm specializing in desalination plants and air-cooled heat exchangers, entered into an agreement to acquire an additional 50% stake in Arabian Company and Sasakura for Water and Power from ACWA Holding Company for $4.3 million. Under the terms of the transaction, Sasakura Engineering will acquire 1,000 shares and will hold an 85.1% stake in Arabian Company and Sasakura for Water and Power upon completion. The transaction will increase the involvement of Saskura in desalinization operations in Saudi Arabia. |
Xinnuo Water (Binzhou) Co. Ltd. Xinnuo Water (Binzhou) Co. Ltd.
Zhonghuan Hengrun (Beijing) Environmental Technology Co., Ltd entered into a framework agreement to acquire Xinnuo Water (Binzhou) Co. Ltd., a municipal wastewater treatment provider, from Sino Water Pte Ltd. for $2.97 million. The transaction was approved by Laodian Town People's Government. |
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| Advanced Leak Detection Pty Ltd. Advanced Leak Detection Pty Ltd. Water Intelligence plc (AIM:WATR) agreed to acquire Australian leak detection companies Advanced Leak Detection Pty Ltd. and Australian Watermain Pty Ltd. from a former franchise of American Leak Detection Inc. for $0.43 million. |
 Environmental Treatment Systems, Inc. Evoqua Water Technologies LLC signed a definitive agreement to acquire Environmental Treatment Systems, Inc. Environmental Treatment Systems will be a part of Evoqua’s Industrial Projects and Services division. Georgia-based Environmental Treatment Systems designs and manufactures components and systems for a range of industrial wastewater needs, including dissolved air flotation and biological treatment. The terms of the acquisition have not been disclosed. |
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 SUEZ Groupe
Sino-French Holdings (Hong Kong) Limited entered into an agreement to acquire recycling and recovery and construction businesses in China from SUEZ Groupe for $52 million. SUEZ Groupe will receive cash and stock for SITA Waste Services Ltd, Degremont Asia Limited, SITA Sha Tin Waste Services Limited, SITA Asia Pacific Limited, Degremont Water Treatment Systems (Beijing) Co., Ltd. and their respective subsidiaries, minority invested companies, and joint ventures. SUEZ (Asia) Limited will hold 58% stake in Sino-French Holdings (Hong Kong) Limited after the transaction. Sino-French Holdings (Hong Kong) is invested in 27 water treatment projects, two sludge treatment projects, and four technical consultancy companies in mainland China, Hong Kong, and Macau. |
 Chongqing Machinery & Electric Company Ltd.
Chongqing Machinery & Electric Company Ltd. (SEHK:2722) entered into an agreement to acquire 49% stake in Water Gen Power Srl from Mario Bianchi and others for $0.75 million. Under the terms of the agreement, Chongqing Machinery & Electric will acquire a 35% stake in Water Gen Power from Mario Bianchi and shall further acquire 14% equity interest through capital injection. Water Gen Power is an infrastructure construction firm based in Genova, Italy focused on water and sewer mains. Chongqing Machinery & Electric, based in China, manufactures machinery, vehicle parts, and power tools. |
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| Zhejiang Longjing Water Industry Co., Ltd. Zhejiang Longjing Water Industry Co., Ltd.
Taiyuan Lionhead Cement Co.,Ltd. (SHSE:600539), a cement manufacturer based in Taiyuan, China, agreed to acquire a 70% stake in Zhejiang Longjing Water Industry Co., Ltd. from certain shareholders for approximately $17.2 million. Zhejiang Longjing Water manufactures water treatment systems, pipe fittings, and water supply hardware. |
 California American Water Company
California American Water Company, the California subsidiary of water utility American Water (NYSE: AWK), agreed to acquire Geyserville Water Works System for $1.5 million. Geyserville Water Works supplies water to homes and businesses in Sonoma, California. The acquisition has been approved by the California Public Utilities Commission. |
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 Beijing Capital Co. Ltd. Beijing Capital Co., Ltd (SHSE:600008), a state-owned enterprise operating in financial services, real estate, and urban infrastructure, particularly water, agreed to acquire Huainan Shuntong Sewage Treatment Co., Ltd. and Huainan Yuanzhuang Water Industry Co., Ltd. |
Anhui Water Resources Development Co., Ltd.
Anhui Water Resources Development Co., Ltd. November 13, 2016Anhui Water Resources Development Co., Ltd. (SHSE:600502) agreed to acquire China Anhui Water Resources Construction Engineering Corp. Anhui Water is based in Bengbu, China and operates as a general contractor for public works, including waterways and hypdropower plants. |
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 Agthia Group PJSC
Abu Dhabi-based food and beverage company Agthia Group PJSC (ADX:AGTHIA) signed a purchase agreement to acquire Delta Water Factory Company from Delta Marketing Co., Ltd. Delta Water produces and distributes bottled water in Saudi Arabia. |
 iCON Infrastructure LLP
iCON Infrastructure Partners III, L.P., managed by iCON Infrastructure LLP, agreed to acquire a 30% stake in Bristol Water plc from SUEZ SA (ENXTPA:SEV). The deal will result in iCON indirectly controlling 80% of Bristol Water's shares. Bristol Water supplies drinking water and sewer services to homes and businesses, serving approximately 1.1 million people in the Bristol area. iCON Infrastructure, a London-based investment firm, invests in the national infrastructure sector, focusing on public services such as water and wastewater. |
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 Severn Trent Water Ltd. Severn Trent Water Ltd. (LSE:SVT), a major municipal water and sewer service provider in the UK, entered into an agreement to acquire Dee Valley Group plc (LSE:DVW) for $97 million. Dee Valley supplies drinking water services to parts of North East Wales and parts of North West England. |
Win Holding Co., Ltd. Win Holding Co., Ltd. Win Holding Co., Ltd., based in Shenzhen, China, acquired Guangdong Robust Corp from Danone (ENXTPA:BN). Guangdong Robust engages in the production of non-alcoholic beverages and dairy products in China. Win Holding will take over the purified bottled water brand and six plants across the country. |
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 Woodard & Curran Inc. Woodard & Curran Inc., a privately held engineering and operations firm focused on water and environmental project design, acquired RMC Water and Environment, Inc. RMC Water and Environment is a California-based environmental engineering company focused exclusively on water. |
 U.S. Water Services, Inc. U.S. Water Services, Inc., an Allete Company (NYSE: ALE), acquired Water & Energy Systems Technology, Inc. (West). U.S. Water engages in chemical water treatment, as well as water equipment production, engineering services, and equipment services. West provides specialty chemicals and engineering service for water treatment in a variety of industries including commercial and institutional facilities, light industry, oil fields, and central heating/cooling plants. |
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| QEP Field Services, LLC QEP Field Services, LLC QEP Field Services, LLC entered into a purchase and sale agreement to acquire water gathering facilities in Billings, Dunn, and Stark Counties, North Dakota from Whiting Oil and Gas Corporation for $50 million. WBI Energy Midstream, LLC, a subsidiary of MDU Resources Group, Inc. (NYSE: MDU), and Whiting Oil and Gas Corporation have entered into an agreement to sell their ownership interests in the Pronghorn natural gas processing plant near Belfield, North Dakota, to QEP Field Services, LLC for $200 million. In addition to the plant, associated assets include 137 miles of natural gas-gathering pipeline and 143 miles of oil-gathering pipeline. In related transactions, QEP Field Services, LLC has also entered into an agreement to acquire gas processing and gathering facilities in Mountrail County and natural gas processing and oil and gas gathering facilities in Dunn and North Dakota. |
 Rio Tinto plc Liberty House Ltd. and SIMEC Group Limited agreed to acquire 100% of Alcan Aluminum UK Ltd., a subsidiary of Rio Tinto plc (LSE:RIO), an Australian mining company, for $407 million. Alcan operates an aluminum smelting operation at Lochaber near Fort William in Scotland. The transaction includes the hydro-electric plants at Lochaber and Kinlochleven powering the smelter, the Lochaber aluminum smelter, and a 100,000 acre estate comprising the water basin. Liberty House Ltd. manufactures and distributes steel and advanced engineering products. SIMEC Group Limited operates shipping, industrial, mining, energy, and commodities businesses. |
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 Strauss Group Ltd. The Strauss Group Ltd (TASE:STRS), one of the largest food manufactures in Israel, signed an agreement to acquire full ownership of Strauss Water from non-controlling interest shareholders, increasing its stake by 12.44% for $17.2 million. Strauss Water manufactures and markets hot, cold, and carbonated water dispensers for commercial and residential use. |
 Beijing Oriental Yuhong Waterproof Technology Co., Ltd. Beijing Oriental Yuhong Waterproof Technology Co., Ltd (SZSE:002271) agreed to acquire Daw Asia from Daw Se for $26 million. Beijing Oriental Yuhong Waterproof Technology is Asia’s largest waterproofing system provider for important infrastructure construction projects, industrial buildings, civil buildings, and commercial buildings. |
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| Arizona Water Banking Authority Arizona Water Banking Authority Arizona Water Banking Authority entered into an agreement to acquire 50,000 Long Term Storage Credits in Arizona from Vidler Water Company, Inc. for $12.5 million. Vidler Water is a wholly owned subsidiary of PICO Holdings, Inc. (NASDAQ:PICO). |
 Acque Potabili S.p.A Iren SpA (BIT:IRE) agreed to acquire the remaining 55.08% stake in Acque Potabili S.p.A, Water Services Business Branch from Acque Potabili S.p.A. for $28.1 million. The Board of Directors of Iren SpA has approved the acquisition of a business branch composed of the integrated water service concessions. Iren SpA is a top player in the Italian multi-utilities sector, operating in electricity, gas, district heating, integrated water service, and waste. Acque Potabili S.p.A. supplies drinking water, sewage, and water treatment services in Italy. |
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| Water Midstream Partners, LLC Water Midstream Partners, LLC
Solaris Water Midstream, LLC acquired Water Midstream Partners, LLC (WMP). As part of the transaction, Solaris Water's Midland County system will be connected to WMP's Midland County system. Solaris Midstream is an independent, growth-oriented midstream company that owns, operates, and designs crucial midstream assets across key unconventional US basins. WMP provides water midstream services to producers working in the Midland Basin of West Texas. |
Ningbo Qiyao New Energy Company Limited Ningbo Qiyao New Energy Company Limited
New China Water (Nanjing) Renewable Resources Investment Co., Ltd. entered into an agreement to acquire Ningbo Qiyao New Energy Co., Ltd. from China Shipbuilding Industry Corporation (Shanghai) New Energy Company Limited for $0.85 million. The transaction is subject to approval of Shanghai Equity Exchange. New China Water (Nanjing) Renewable Resources Investment Co., Ltd. engages in the development, investment, construction, and operation of renewable waste resources utilization projects. Ningbo Qiyao principally engages in the operation of landfill gas power generation plant in the Ningbo Yinzhou landfill, located in Zhejiang Province. |
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 Bristol Water plc
iCON Infrastructure Partners III, L.P., a fund managed by iCON Infrastructure LLP, acquired 50% stake in Bristol Water plc from Capstone Infrastructure Corporation for approximately £120 million. Proceeds from the sale will be used to eliminate CAD 194 million (£116.61 million) of the outstanding CAD 291 million (£174.92 million) balance of the promissory note issued by Capstone to Irving Infrastructure Corp. on April 29, 2016. iCON is a London-based independent investment group focusing on privately held investments in infrastructure assets in Europe and North America. Bristol Water supplies drinking water to individuals and business within 1,000 square miles of Bristol, England. |
CSE Water UK Limited CSE Water UK Limited
iCON Infrastructure Partners III, L.P., a fund managed by iCON Infrastructure LLP, acquired 71.4% stake in CSE Water UK Limited from Capstone Infrastructure Corporation for approximately $145.8 million. iCON Infrastructure issued a purchase note as consideration. iCON is a London-based independent investment group focusing on privately held investments in infrastructure assets in Europe and North America. Capstone Infrastructure Corp. owns and operates diversified infrastructure businesses in Canada and internationally. |
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 Poseidon Water Limited Brookfield Infrastructure Partners L.P. (NYSE:BIP) acquired majority ownership in Poseidon Water Limited in 2016. Brookfield Infrastructure Partners L.P., headquartered in Hamilton, Bermuda, is one of the largest owners and operators of critical and diverse global infrastructure networks facilitating the movement and storage of energy, water, freight, passengers, and data. Poseidon Water is a water project development company experienced in the development of, management, and investment in a variety of projects undertaken through a public-private partnership approach. |
Meiling Environmental Meiling Environmental Kangda Investment (Hong Kong) Company Limited entered into an equity transfer agreement to acquire Meiling Environmental from China Meiling Environment Holdings Pte. Ltd. Under the terms of the transaction, the total consideration for the acquisition was approximately 540 million, including approximately $54.9 million as consideration for the acquisition of Meiling Environmental equity interest, projects, and assets. Kangda Investment (Hong Kong) Company Limited will have 100% equity interest in the Meiling Environmental and its two wholly owned subsidiaries engaging in sewage purification business, and a 49% equity interest in Zibo Tianqiyuan. Kangda Investment (Hong Kong) Company Limited is an investment holding company that constructs and operates wastewater sewage treatment plants in China. |
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 RWL Water Group RWL Water Group reached an agreement to acquire Acquavit from Alexandre Melo. Acquavit will be renamed as RWL Water Brasil. RWL Water Group offers global solutions for desalination, water, wastewater, waste-to-energy, recovery and reuse, and food and beverage processing. Acquavit is a well-established Brazilian water and wastewater treatment company. |
 Swisspower AG
Swisspower AG acquired 27 water, wind, and solar power plants in Italy. Swisspower Renewables AG is a company established by more than 10 municipality utilities shareholders that invests in renewable energy generation facilities and focuses on onshore wind and hydro power in Central Europe. |
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 Aquarbe Sa. Aquarbe Sa. acquired water supply service in Cantabria from Oxital España, S.L. Aquarbe Sa. is a company in the environmental sector that manages all processes related to the complete water cycle: catchment, drinking water treatment, transport, and distribution for human consumption with full health guarantees. Oxital España, S.L. is a pioneer in the development of innovative solutions in water purification and maintenance in Spain. |
Xinjiang Chang Yuan Water Group Co., Ltd. Xinjiang Chang Yuan Water Group Co., Ltd. Shenzhen Jianxin Investment Development Co., Ltd entered into a contract to acquire a 51% stake in Xinjiang Chang Yuan Water Group Co., Ltd. from China Water Investment Co., Ltd. Xinjiang Chang Yuan Water Group Co., Ltd. offers water network development and operation services, mineral resource development, water investment, water project construction, and land development services. China Water Investment Co., Ltd., together with its subsidiaries, provides water project investment, operation, and management services. |
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| Bei Kong (Dalian) Investment Co., Ltd. Bei Kong (Dalian) Investment Co., Ltd. Fortune Future Limited and Honest World International Limited signed an agreement to acquire a 60% stake in Bei Kong (Dalian) Investment Co., Ltd. from Beijing Enterprises Water Group Limited (SEHK:371) for $217 million. Beijing Enterprises Water Group Limited is a large-scale group providing a broad range of water services and environmental protection services in China. |
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New Concepts Holdings Limited New Concepts, a Hong Kong-based civil engineering firm, placed $21.5 million worth of shares with CEF Concept Holdings Limited and Go Million International Limited, the proceeds of which will be used for working capital and the proposed acquisition of a water treatment business. |
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New Concepts Holdings Limited New Concepts, a Hong Kong-based civil engineering firm, placed $21.5 million worth of shares with CEF Concept Holdings Limited and Go Million International Limited, the proceeds of which will be used for working capital and the proposed acquisition of a water treatment business. |
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Goodnight Midstream, LLC August 3, 2016 |
Zero Mass Water, Inc.
Zero Mass Water, based in Scottsdale, Arizona raised $15 million in funding via private placement under Regulation D. Zero Mass Water develops equipment that uses solar energy to produce potable water.
