Partners Group has acquired a company that manages a portfolio of wastewater, water and related infrastructure assets in the US and Canada.
The global private markets investment manager, investing on behalf of its clients, has paid an undisclosed amount to buy Resilient Infrastructure.
Founded in 2019, Resilient’s investment-stage focus ranges from greenfield development to existing asset acquisition. Headquartered in Portland, Oregon, the company provides distributed water and wastewater solutions to industrial, technology, institutional and municipal clients that solve their site-specific treatment needs.
Partners Group said it has identified significant potential to actively transform and grow Resilient into a well-diversified multi-industry water platform.
Ed Diffendal, managing director, private infrastructure Americas, Partners Group, said: “We have been actively researching the water and wastewater infrastructure sector for a number of years as part of our thematic approach to investing.”
It is estimated that the industry will require $1trn in investment over the next 25 years and $40bn annually, Diffendal said.
”The critical need for the development of more water infrastructure makes Resilient an exciting transformational investment opportunity, and we look forward to working with the Resilient management team to build the leading platform of water-related assets in the US and Canada that will yield strong, sustainable returns for our investors.
”Partners Group’s entrepreneurial governance approach and extensive experience in executing platform expansions makes it ideally suited to support the Platform’s growing portfolio.”
Ben Vitale, co-founder, CEO of Resilient Infrastructure, said: “Companies, institutions and communities recognise that upgraded water-related infrastructure is needed at every level to maintain and expand delivery of services. This is driving the trend towards the development of decentralised water assets, which is Resilient’s core focus.
”We believe that water efficiency, recovery, and reuse are the new energy efficiency. We look forward to working with Partners Group, leveraging its significant market reach, proven ability to work with management teams to build and operate a platform of assets, and the team’s operational expertise, to achieve our next phase of growth.”
Paul Luce, member of management, private infrastructure Americas, Partners Group, said: “Resilient is an exciting opportunity to partner with a seasoned management team to develop essential infrastructure in a sector benefiting from accelerating tailwinds, as identified by our Thematic Sourcing strategy. These tailwinds include the need for privately-owned and operated distributed water assets given the deteriorating state of municipal water assets and the increasing scarcity of water as a resource due to climate change.
”Certain assets identified for development will also provide a renewable energy source for local communities, assisting the transition to a low carbon economy and further enhancing the platform’s positive stakeholder impact.”
To read the digital edition of the latest IPE Real Assets magazine click here.
