Divestiture of Aquam Water Services and Orbis Intelligent Systems
Industry Update

Divestiture of Aquam Water Services and Orbis Intelligent Systems

Water Today

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2 mins read

Aquam ​Corporation, a ​leader in water ​infrastructure ​solutions, ​announced the sale of ​Aquam Water ​Services, Ltd. (​AWS) and Orbis ​Intelligent ​Systems in a ​single ​transaction to ​Cadence Equity ​Partners ​partnered with ​Unigestion.​

AWS provides ​technologies ​and services ​enabling UK ​utilities to ​acquire and ​analyze ​critical ​network data ​for proactively ​managing their ​networks and ​meeting ​increasingly ​stringent ​regulatory ​requirements. ​Orbis provides ​innovative non-​invasive ​solutions for ​utilities that ​monitor flow ​parameters and ​assess the ​condition of ​pipes. ​

This transaction ​enables Aquam ​to focus on and ​accelerate the ​growth of its ​innovative pipe ​rehabilitation ​technologies ​and services. ​The combination ​of AWS and ​Orbis, unlocks ​data analytics ​opportunities ​with existing ​AWS customers, ​drives ​AWS’ ​international ​expansion, and ​creates new ​opportunities ​for Orbis ​leveraging ​AWS’ ​customer base ​and reach. ​

“The ​fact that this ​transaction was ​completed in ​the current ​extraordinarily ​challenging and ​uncertain ​environment ​validates the ​strategic ​rationale of ​combining AWS ​and Orbis, the ​benefits it ​will provide ​customers, and ​the robust ​nature of the ​water utility ​market segment,​” said ​Dan Squiller, ​Aquam’s ​CEO.

Phil Walker, ​CEO of AWS said,​ “The ​combination of ​AWS and Orbis ​will create ​significant ​benefits for ​both AWS and ​Orbis customers.​ Orbis’ ​technology, ​embraced by the ​major UK ​utilities, ​provides ​previously ​unobtainable ​data for ​recovering lost ​water revenue, ​locating leaks, ​and understanding ​burst and ​interruption ​events. And AWS ​provides Orbis ​a ready ​platform and ​infrastructure ​for penetration ​into the UK and ​international ​markets.”​ ​

Pieter Hooft ​and Jamie ​Szpiro led ​Cadence’s ​team for the ​transaction and ​will join ​AWS’ ​board as Non-​executive ​directors. They ​commented, ​“AWS and ​Orbis meet the ​needs of a wide ​range of water ​users, ​including UK ​water utilities ​and North ​American ​commercial and ​municipal users,​ with ​specialist ​services and ​know-how. This ​is a perfect ​example of the ​type of Applied ​Technology ​business ​Cadence aims to ​support. In ​Phil Walker and ​Danny Krywyj, ​we are backing ​a proven team ​in two ​businesses with ​long term ​customer ​relationships ​and excellent ​references. The ​team has ​ambitious plans ​and we look ​forward to ​supporting ​their strategic ​growth.”​

Aquam was ​advised by the ​Global ​Technology & ​Services and ​Water teams at ​Raymond James. ​Dominic Emery, ​Managing ​Director in ​London ​commented, ​“Raymond ​James is ​delighted to ​have advised ​Aquam ​Corporation on ​these highly-​complex, ​parallel carve-​out transactions ​and we wish the ​management ​teams of both ​Aquam Water ​Services and ​Orbis all the ​best for the ​future. We are ​confident that ​this next phase ​will enable the ​two businesses ​to work ​together ever ​more closely on ​an international ​basis under ​combined ​operations and ​new ownership.​”​

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