Headquartered in Stockholm, Sweden, WTR Group is backed by private equity firm Aspira Partners. Its portfolio of brands operates across Sweden, Germany and the UK, providing products and services for pumping systems, fluid movement, separation and treatment, plus measurement and control across the water, wastewater and industrial-flow markets.
Pi is a global supplier of water analysis instrumentation, with offices, laboratories and manufacturing operations in Burnley and customers in more than 50 countries. Pi’s products monitor water quality and optimise chemical dosing across municipal, industrial, food and beverage, paper and pulp, and swimming pool facilities.
The transaction gives WTR Group a route into the instrumentation market while providing both businesses with access to a wider customer base. It also marks an important step in WTR Group’s continued growth in the UK and expands its global reach through Pi’s subsidiaries in Ireland, France and China.
An advisory team at Evolve Corporate Finance, led by Jonathan Wright, partner, with support from Tom Hammond, partner, manager Liam Bradney, and senior associate Will Buchanan, advised WTR Group. The team at Evolve Corporate Finance were integral to the deal process, identifying and approaching the target, overseeing and managing negotiations with the seller and providing ongoing project management. Evolve Corporate Finance and WTR Group will continue to work together as the PE-backed group seeks to identify further complementary acquisitions in the UK market as part of its ongoing growth strategy to become a leader in the water, wastewater and industrial-flow markets in Europe.
Jonathan Wright, Partner at Evolve, commented “We are delighted to have supported WTR Group on its latest acquisition in the UK market, providing end-to-end deal advisory support to help identify and approach prospective sellers and complete the transaction of Pi – a highly complementary business. The deal will provide significant opportunities for both businesses across Europe and globally. We are excited about continuing to work with the WTR Group team to support their growth and acquisition plans.”
