Abu Dhabi’s Mubadala and BDT Capital Partners have completed the acquisition of global leader in sustainable water solutions and services, Culligan International.
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 deal that was first announced in May 2021.
According to a statement, 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.
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 innovative water solutions, among others.”
Culligan was founded by Emmett Culligan in Illinois, USA in 1936 and sells products and services for water filtration and treatment around the globe. It is currently 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, Sharjah and Qatar. In 2014, the company opened a new 10,000m2 manufacturing facility in Dubai Techno Park.
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