Dubai: Abu Dhabi wealth fund Mubadala has bought up the water services company Culligan International via an alliance with BDT Capital Partners. BDT acquired a majority stake in Culligan from Advent International and Centerbridge Partners in a deal that was announced in May. Mubadala provided a significant capital commitment as an anchor partner in the transaction.
Advent will retain a minority stake in Culligan going forward. Financial terms of the transaction were not disclosed.
“We are pleased to announce the closing of the acquisition of Culligan, a leader in the consumer water treatment and sustainable water solutions market,” said San Orr, President of BDT Capital Partners. “We are also pleased to have Mubadala invest alongside us in this transaction given their global presence, long-term capital and our deep relationship with them since the founding of BDT.”
Culligan, which sells products and services for water filtration and treatment, operates through facilities in Abu Dhabi, Dubai, Sharjah and Qatar in the Middle East. "Culligan is a prime example of adhering to this strategy and pairs well with our interest in profitably investing in businesses where ESG is at the core of their value proposition to the market," said Adib Mattar, Head of Private Equity at Mubadala Capital.