Saturday , September 18 2021

Mubadala, BDT bolster ties with acquisition of Culligan

ABU DHABI / WAM

BDT Capital Partners (BDT), Mubadala Investment Company and its asset management subsidiary, Mubadala Capital (together “Mubadala”), on Monday announced the transaction close of the acquisition of Culligan International (Culligan), the global leader in sustainable water solutions and services.
BDT Capital Partners, LLC (BDT), affiliated with BDT & Co, LLC, a merchant bank that provides closely held businesses with long-term, differentiated capital, along with strategic co-investing families and institutions, acquired a majority interest in Culligan from Advent International and Centerbridge Partners in a transaction that was first announced in May 2021. Mubadala provided a significant capital commitment as an anchor partner in the transaction. Advent will also 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 led by CEO Scott Clawson and an exceptional management team,” 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.”
Adib Mattar, Head of Private Equity at Mubadala Capital, added, “We have built our Private Equity business around identifying world class management teams that operate market leading businesses. 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, namely the delivery of clean drinking water on a global basis and reducing the use of single use plastic bottles through water solutions.”

“We have been successfully partnering with BDT since their founding and look forward to continuing to build on that relationship with this latest investment.”

Founded in Illinois, USA in 1936 as a water filtration and treatment service provider, Culligan is now the largest player in the sector with over 35 brands in 90 countries. Culligan Middle East established a presence in Dubai over 20 years ago and has since grown to be one of the largest and most diverse water treatment companies in the Gulf region.

Today, Culligan Middle East operates through facilities in Abu Dhabi, Dubai and Sharjah. In 2014, Culligan Middle East opened a new Manufacturing facility in Dubai Techno Park. This 10,000 square metre site is a purpose-built, integrated manufacturing, sales and service centre, including facilities for equipment fabrication, chemical blending and water bottling.

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