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IFM Investors acquisition of a stake in Aqualia reinforces the company’s development strategy and strengthens its position in the water management sector


WEBWIRE
  • The Australian fund has acquired 49% of Aqualia for €1,024 million
  • IFM has an asset portfolio worth $77 billion, including two water management companies, in Australia and the UK
  • Following the deal, Aqualia plans to maintain its current strategy, operations and commercial relations (with public administrations, private customers, suppliers, etc.), while strengthening and developing new markets, benefiting from the active involvement of its new shareholder, the resulting synergies, and the continuity of the company’s current management

Australian investment management company IFM Investors has reached an agreement with FCC to acquire 49% of Aqualia for €1,024 million. The agreement is subject to the pertinent regulatory approvals.

This operation enhances Aqualia’s capacity to tap into market opportunities that emerge in the next few years and is a testimony to the company’s track record and a recognition of its reputation as an expert technology partner, for administrations and industry alike, in the water management area.

This is IFM Investors’ first deal in the water industry in continental Europe, and its third globally. The Australian fund has amassed more than fifteen years of experience in the sector, having invested in Wyuna Water (Australia) in 2003 and Anglian Water (UK) in 2006.

IFM Investors, Executive Director – Europe, Mr. Frederic Michel-Verdier said: “This is a rare opportunity to invest in a fast growing, international leader in water management. We admire the company’s strategy of ambitious but prudent growth outside of its domestic market and its commitment to customer service. We look forward to contributing our expertise in the water sector to further the development of its services.”

IFM Investors Global Head of Infrastructure, Mr. Kyle Mangini commented: “FCC Aqualia is a great complement to our existing portfolio of assets. It is dedicated to innovating with its responsibility to society and the environment in mind; this aligns with our focus on long-term sustainable development and stewardship.” 

Félix Parra, General Manager of Aqualia, also expressed satisfaction at the deal, which, he said, reinforces the firm’s commitment to partnering administrations to deliver a public service. Parra pledged to “continue work with renewed enthusiasm on all projects currently underway, and in all the territories where we operate, maintaining our commitment to people’s welfare on the basis of transparent and ethical management, and striving to attain financial, social and environmental sustainability throughout the water cycle through a combination of efficiency and innovation.”

Pablo Colio, CEO of FCC, highlighted IFM’s experience in the infrastructure sector, noting that it is among the world’s leading infrastructure management companies, and that it also conducts its business ethically, which, he added, makes the deal doubly pleasing. Colio said, "FCC is very proud that IFM has chosen Aqualia. Together, we will strengthen the company’s lead in providing all kinds of services linked to water.”

IFM, an ethical fund managing assets worth $77 billion

IFM Investors is a global investor-owned fund manager which, at 30 September 2017, managed assets worth $77 billion. Established more than 20 years ago, it is owned by 28 Australian pension funds, which manage the savings of 15 million people worldwide.

IFM’s interests are fully aligned with those of its investors. Its investment teams in Europe, North America and Australia manage institutional strategies in infrastructure (equity and debt), debt investments, listed equities and private equity. IFM Investors has been a signatory to the United Nations-backed Principles for Responsible Investment since 2008. IFM Investors has offices in eight locations: Melbourne, Sydney, New York, London, Berlin, Tokyo, Hong Kong and Seoul. For further information see www.ifminvestors.com.

Aqualia is a world leader in managing water services

Aqualia is the water management subsidiary of FCC, one of Europe’s leading citizen services companies. With close to 8,000 employees, it is the fourth-largest investor-owned water company in Europe and among the world’s top ten, according to the most recent ranking by Global Water Intelligence (GWI) magazine (November 2017). In 2017, governments evidenced their trust in the company as an expert technology partner by awarding it major contracts in: Abu Rawash (Egypt), Burgos (Spain), Glina (Romania), Arraiján (Panama), Guaymas (Mexico), Sohar (Oman) and Al-Watha (UAE).

It was also voted best company in its sector in Spain and LatAm in 2017 by specialist magazine iAgua, and has been nominated for Water Company of the Year, the most coveted category of the Global Water Awards 2018, established by the prestigious publication Global Water Intelligence (GWI).

It currently provides services to 22.5 million people in 1,100 municipalities in 22 countries: Spain, Italy, Portugal, Czech Republic, Poland, Romania, Montenegro, Bosnia, Mexico, Chile, Uruguay, Algeria, Egypt, United Arab Emirates, Saudi Arabia, Serbia, Tunisia, Qatar, Oman, Colombia, Ecuador and Panama. In 2017, Aqualia reported €1,025.9 million in revenues, €241 million in EBITDA and an order book of nearly €15,000 million.


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