UAE - Mubasher: BDT Capital Partners (BDT), Mubadala Investment Company, and its asset management subsidiary, Mubadala Capital, have closed the transaction to acquire the US-based Culligan International (Culligan), a sustainable water solution and service provider.
BDT has acquired a majority stake in Culligan from Advent International and Centerbridge Partners in a transaction, which was first announced in May 2021, while Advent will maintain a minority stake in Culligan, according to a recent press release.
Mubadala provided a capital commitment as a partner in the transaction.
The Head of Private Equity at Mubadala Capital, Adib Mattar, said: "We have built our Private Equity business around identifying world-class management teams that operate market leading businesses."
Mattar added: "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."
