Mubadala and BDT complete purchase of water treatment solutions firm Culligan

Abu Dhabi investor provided a large capital commitment as an anchor partner when an initial deal was announced in May

Mubadala provided a significant capital commitment as an anchor partner when BDT acquired a stake in Culligan in May.

Mubadala Investment Company, its asset management subsidiary Mubadala Capital, and private equity firm BDT Capital Partners said on Monday they closed the deal to acquire sustainable water solutions provider Culligan International.

BDT acquired a majority interest in Culligan from Advent International and Centerbridge Partners in a transaction that was announced in May, in which Mubadala provided a significant capital commitment as an anchor partner.

Advent will retain a minority stake in Culligan, Mubadala said in a statement, without disclosing financial terms of the deal.

“We are 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,” San Orr, president of BDT Capital Partners, said.

“[The deal] pairs well with our interest in profitably investing in businesses where ESG [environment, social and governance ... norms] is at the core of their value proposition to the market, namely the delivery of clean drinking water on a global basis and reducing the use of single use plastic bottles through innovative water solutions, among others,” Adib Mattar, head of private equity at Mubadala Capital, said.

Illinois, US-based Culligan sells products and services for water filtration and treatment and has more than 35 brands in 90 countries.

Culligan Middle East operates through facilities in Abu Dhabi, Dubai, Sharjah and Qatar. The company established a presence in Dubai more than 20 years ago and has since become one of the most diverse water treatment companies in the Gulf region.

In 2014, Culligan Middle East opened a manufacturing facility in Dubai Techno Park. The 10,000-square metre site is a purpose-built, integrated manufacturing, sales and service centre housing facilities for equipment fabrication, chemical blending and water bottling.