Wateralia completes acquisition of Aquatec, with multiple law firms advising on the deal

Clifford Chance, Greenberg Traurig, White & Case, Simmons & Simmons, Facchini Rossi Michelutti, Allens, ZNR Notai and Saville Notaries participated in the transaction, respectively advising Ambienta and Wateralia, Ambienta and Wateralia on financing matters, the bond subscribers, Deutsche Trustee Company Limited (notes trustee) and Deutsche Bank AG, London Branch (security agent), Ambienta and Wateralia on tax matters, the sellers, the Italian notarial aspects and the English notarial aspects. Wateralia, an independent European specialist in centrifugal pumps and water pumping systems, has completed the acquisition of Aquatec Holdings Pty Ltd, a leading supplier of water and wastewater management solutions in Australia and New Zealand. The acquisition strengthens Wateralia’s international presence in a market undergoing significant development in Australia and augments the group’s engineering and system-integration capabilities. The Wateralia group reports approximately €400 million in revenue and around 1,200 employees across more than 140 countries. The investment represents the first APAC add-on executed by Ambienta SGR, the asset manager focused on environmental sustainability investments. Ambienta owns Wateralia through Ambienta IV Fund and Ambienta Water Pumps, a single-asset continuation fund with approximately €500 million of capital. The transaction was financed through a tap in a private placement of a bond subscribed by funds associated with Blackstone, Stepstone and Eurizon; the proceeds were used to pay the acquisition price and related costs. Clifford Chance represented Ambienta and Wateralia with a team composed by: partner Claudio Cerabolini (Milan) and associate Amedeo Sciolari (Milan); partner Mark Currell (Sydney) with senior associate Lucy Conway (Sydney) and associate Jae-Ho Kim (Sydney). Greenberg Traurig represented Ambienta and Wateralia with a team composed by: partner Riccardo Agostinelli, partner Marco Leonardi, senior associate Alessandro Pallavicini and trainee Lucrezia Naronte. White & Case represented the bond subscribers with a team composed by: partner Stefano Bellani (Milan), partners Gareth Eagles and Emma Foster (both London), partner Roman Picherack (Sydney), senior associates Nicola Tosin (Milan) and Greig Lamont (Sydney), and associate Giorgio Hassan (Milan). Simmons & Simmons represented Deutsche Trustee Company Limited (notes trustee) and Deutsche Bank AG, London Branch (security agent) with a team composed by: partner Hannah Ward and associate Lukasz Napieraj (London). Facchini Rossi Michelutti represented Ambienta and Wateralia on tax aspects related to both the corporate/M&A structure and the bond financing with a team composed by: partners Luca Rossi and Giancarlo Lapecorella, senior associate Armando Tardini and associate Massimiliano De Pasquale. ZNR Notai handled the Italian notarial aspects of the transaction with a team composed by: partners Susanna Schneider and Stefano Rampolla, assisted by Alessandro Franzini, Camilla Tolasi and Lodovico Ferrari. Allens represented the sellers in the transaction. Saville Notaries of London provided assistance on the English notarial aspects of the deal.

Wateralia completes acquisition of Aquatec, with multiple law firms advising on the deal

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