The water utilities industry in DACH involves companies that manage water supply and treatment processes. This sector includes public and private enterprises, engineering firms, and technology providers dedicated to maintaining safe drinking water and efficient wastewater management. As global awareness of sustainability grows, the industry is increasingly adopting innovative solutions to enhance water resource management. Key trends include digitization and investment in smart water technologies. Despite challenges like aging infrastructure and climate change, the sector is positioned for transformation, aiming to improve efficiency and reduce environmental impact while ensuring that clean water remains accessible to all.


The compilation of investors in the DACH region features a mix of corporate giants and venture capital firms, each varying in size and focus. With headquarters scattered across Germany, Austria, and Switzerland, these investors range from well-established entities, like Siemens founded in 1847, to younger firms like Technology Fund, founded in 2014. In 2024, these investors collectively participated in a notable 203 deals, showcasing their active involvement in the water utilities sector and reflecting a growing commitment to sustainability and innovation. The investments promise to foster advancements in water management technologies, addressing critical industry needs.


Top 14 Water Utilities Investors in DACH


1. Deg

  • Website: deginvest.de
  • Type: Corporate
  • Headquarters: Neunkirchen, North Rhine-Westphalia, Germany
  • Founded year: 1962
  • Headcount: 501-1000
  • Number of deals in 2024: 17
  • LinkedIn: deg

DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is a public entity based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 1962. As a development finance institution, DEG provides long-term financing and advisory services to private enterprises in developing and emerging markets, with a strong emphasis on sustainable development and job creation. DEG supports businesses across various sectors, including agriculture, manufacturing, and infrastructure, helping them access capital and expert guidance for growth. Notably, DEG has been involved in significant transactions related to water utilities, such as its partnership with AP Moller Capital and the Investment Fund for Developing Countries to invest in Eranove, a company engaged in electricity and water production. Additionally, DEG's involvement in financing Georgia Global Utilities further highlights its active role in the water sector, making it a key player in promoting sustainable water solutions.


2. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is an investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative approach and commitment to sustainability. Among its notable transactions, Partners Group acquired Techem, a German metering company, for €4.6 billion, which plays a crucial role in utility management. Additionally, their acquisition of United States Infrastructure Corporation (USIC) highlights their involvement in utility services, as USIC specializes in underground utility locating. These transactions reflect Partners Group's strategic interest in sectors that intersect with water utilities, enhancing their relevance in this investment category.


3. Siemens

  • Website: siemens.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: siemens

Siemens AG, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a prominent technology conglomerate specializing in industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates substantial revenue globally. Notably, Siemens has made significant strides in the water utilities sector through strategic acquisitions. In 2012, Siemens acquired Cambridge Water Technology, enhancing its capabilities in water and wastewater treatment systems. Additionally, in 2004, Siemens acquired USFilter Corp. from Veolia Environnement for $993 million, further solidifying its portfolio in the water supply and treatment industry, particularly in the U.S. market. These transactions demonstrate Siemens' commitment to improving efficiency and sustainability in water management, making it a key player in the water utilities industry.


4. NORMA Group


NORMA Group is a corporate investor based in Maintal, Hesse, Germany, founded in 2006. The company specializes in engineered joining technology, providing a range of products including clamps, connectors, and fluid systems. NORMA Group has made significant strides in the water utilities sector, highlighted by their acquisition of a water management company in India and the €1 billion acquisition of Kimplas Piping Systems, a leading manufacturer of electrofusion and compression fittings. These strategic acquisitions aim to enhance their expertise in water management solutions, particularly in the growing Indian market. With a focus on delivering innovative solutions that ensure safety and reliability in critical applications, NORMA Group is well-positioned as an investor in the water utilities industry.


5. wienerberger

  • Website: wienerberger.com
  • Type: Corporate
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 1819
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: wienerberger

Wienerberger AG, founded in 1819 and based in Vienna, Austria, is a leading construction materials manufacturer specializing in bricks, roof tiles, and plastic pipes. The company serves construction businesses and contractors by providing innovative and sustainable building solutions, with a strong focus on ecological practices. In recent years, Wienerberger has made significant strides in the water utilities sector through various acquisitions. In 2024, they acquired GrainPlastics, a drainage specialist, to enhance sustainable water management. In 2023, they acquired Wideco Sweden AB, a company specializing in energy and water management solutions, to bolster their Smart Solution offerings. Additionally, their acquisition of FloPlast and Vargon d.o.o. has strengthened their position in the piping solutions market, further supporting their commitment to water management solutions. These transactions highlight Wienerberger's strategic focus on integrating water management into their product portfolio, aligning with their sustainability goals.


6. Brenntag

  • Website: brenntag.com
  • Type: Corporate
  • Headquarters: Essen, North Rhine-Westphalia, Germany
  • Founded year: 1874
  • Headcount: 10001+
  • Number of deals in 2024: 8
  • LinkedIn: brenntag

Brenntag SE is a leading chemical distributor based in Essen, North Rhine-Westphalia, Germany, founded in 1874. The company connects chemical manufacturers and users, providing a wide range of specialty and industrial chemicals, along with value-added services. Brenntag serves approximately 195,000 customers across various industries, including food, pharmaceuticals, and oil & gas. Notably, in February 2023, Brenntag acquired a water treatment facility in Pomona, South Africa, aimed at enhancing its operations for water treatment customers. This strategic acquisition not only improves their blending and storage capacities but also integrates existing employees into the Brenntag Specialties team, highlighting their commitment to the water utilities sector. Additionally, Brenntag has made several other acquisitions in the chemical distribution space, further solidifying its position in the market.


7. Georg Fischer

  • Website: georgfischer.com
  • Type: Corporate
  • Headquarters: Schaffhausen, Schaffhausen, Switzerland
  • Founded year: 1802
  • Headcount: 10001+
  • LinkedIn: georg-fischer

Georg Fischer Ltd is a manufacturing company based in Schaffhausen, Switzerland, founded in 1802. The company specializes in providing innovative solutions across various sectors, including piping systems, building flow solutions, casting, and machining. Georg Fischer serves a diverse clientele, including municipalities and industries such as automotive and aerospace, with a strong focus on efficiency and sustainability. Notably, they have made strategic acquisitions and investments that enhance their role in the water utilities sector. For instance, their acquisition of Alfa Plastics Inc. in 2008 transformed it into Georg Fischer Piping Systems Ltd, significantly boosting their capabilities in managing piping systems in Canada. Additionally, their minority stake in Urecon and participation in funding for Oxford Flow demonstrate their commitment to advancing technologies and solutions relevant to water management and utilities.


8. ACP | Allianz Capital Partners


Allianz Capital Partners (ACP) is an investment management firm based in Munich, Bavaria, Germany, specializing in private equity, infrastructure, and renewable energy investments. Founded in 2006, ACP manages assets for institutional investors and insurance companies, focusing on generating stable, long-term returns while enhancing portfolio diversification. A notable transaction in their portfolio is the acquisition of Affinity Water in May 2017, where ACP partnered with DIF Infrastructure IV and HICL Infrastructure Company Limited to acquire 100% of the company from funds managed by Morgan Stanley and InfraCapital. This acquisition highlights ACP's commitment to investing in the water utilities sector, demonstrating their capability and interest in this area. Additionally, they have been involved in other transactions, such as GasNet, although it is less relevant to the water utilities context. Overall, ACP's strategic focus and past transactions position them as a relevant investor in the water utilities industry.


9. Technology Fund

  • Website: technologyfund.ch
  • Type: Corporate
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2014
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: technology-fund

Technology Fund is a not-for-profit organization based in Zurich, Switzerland, founded in 2014. It specializes in providing loan guarantees to innovative companies focused on environmental sustainability, particularly within the cleantech sector. The fund aims to bridge the gap between startup funding and traditional loans, enabling businesses to develop and market their innovative products. Among its notable transactions, Technology Fund has supported rqmicro, which raised over $1.5 million in debt financing for its water quality monitoring solutions. This aligns with the water utilities sector, showcasing the fund's commitment to supporting technologies that can enhance water management and sustainability. Other transactions include support for companies like Wegaw and onCyt, which may also have implications for water utilities through their environmental innovations.


10. eCAPITAL ENTREPRENEURIAL PARTNERS


eCAPITAL ENTREPRENEURIAL PARTNERS is a venture capital firm based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 1999. The firm specializes in investing in technology companies, particularly in sectors such as cleantech, software, and cybersecurity. They provide early to growth stage funding and strategic support to startups, helping them navigate challenges and achieve growth. Notably, eCAPITAL has invested in Smart Hydro Power GmbH, which focuses on innovative solutions in the water utilities sector, raising €2.7M to finance reference projects and enhance international sales and marketing. Additionally, they have been involved in multiple funding rounds for CNM Technologies, which, while not directly related to water utilities, showcases their active investment strategy in technology-driven companies. This diverse portfolio indicates their capability and willingness to invest in sectors that intersect with water utilities, particularly in cleantech.


11. Basf

  • Website: basf.com
  • Type: Corporate
  • Headquarters: Ludwigshafen, Rhineland-Palatinate, Germany
  • Founded year: 1865
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: basf

BASF SE is a multinational chemical manufacturer based in Ludwigshafen, Germany, founded in 1865. The company provides a wide range of products and solutions across various industries, including agriculture, automotive, and construction, with a strong focus on innovation and sustainability. In the context of water utilities, BASF has made significant strides by acquiring inge watertechnologies AG, a specialist in ultrafiltration technology, which allows BASF to strengthen its position in the growing water treatment market. This acquisition, completed in August 2011, highlights BASF's commitment to addressing environmental challenges and improving operational efficiency in water management. Additionally, BASF's diverse portfolio and strategic acquisitions reflect its broader interest in enhancing sustainability across multiple sectors, including water utilities.


12. Nestlé

  • Website: nestle.com
  • Type: Corporate
  • Headquarters: Vevey, Vaud, Switzerland
  • Founded year: 1866
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: nestle-s-a-

Nestlé S.A. is a multinational food and beverage company based in Vevey, Vaud, Switzerland, founded in 1866. With over 10,000 employees, Nestlé offers a diverse range of products including coffee, dairy, and pet care items, while also emphasizing sustainability in its operations. In recent years, Nestlé has made significant investments in the water sector, acquiring companies such as Princes Gate Spring Water in 2018 to strengthen its position in the UK market, and Henniez in 2007, further expanding its bottled water offerings. In 2021, Nestlé acquired Essentia Water, a leading alkaline water brand, as part of its strategy to enhance its premium beverage portfolio. These transactions highlight Nestlé's commitment to the water utilities industry, particularly in the bottled water segment, making it a relevant investor in this space.


13. Verve Ventures

  • Website: verve.vc
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 25
  • LinkedIn: investiere-venture-capital

Verve Ventures is a Zurich-based venture capital firm founded in 2010, specializing in deep tech investments across Europe. The firm provides funding and strategic support to science and technology startups, focusing on sectors such as climate tech, industrial technology, and health & bio. Notably, Verve Ventures has participated in significant transactions relevant to the water utilities sector, including investments in Puraffinity, a startup dedicated to PFAS removal, which raised $8.8 million in Series A funding in September 2024. This investment highlights their commitment to addressing water quality challenges. Additionally, their involvement in Turn2X, which raised €4.3 million in Seed funding for the development of renewable natural gas production, further emphasizes their interest in sustainable technologies that can impact water utilities. Overall, Verve Ventures is positioned as a proactive investor in technologies that can enhance water utility services and environmental sustainability.


14. Sulzer

  • Website: sulzer.com
  • Type: Corporate
  • Headquarters: Winterthur, Zurich, Switzerland
  • Founded year: 1834
  • Headcount: 10001+
  • LinkedIn: sulzer

Sulzer Ltd. is an industrial engineering and manufacturing company based in Winterthur, Zurich, Switzerland, founded in 1834. The company specializes in fluid engineering solutions, providing a wide range of products and services, including pumps, compressors, and aeration systems. Sulzer serves various sectors, notably water treatment, oil and gas, and power generation, with a strong emphasis on innovation and sustainability to enhance operational efficiency. A key transaction highlighting Sulzer's involvement in the water utilities sector is their acquisition of Nordic Water Products for SEK 1.2 billion (€119 million) in January 2021. This acquisition underscores Sulzer's commitment to expanding its capabilities in water treatment technologies, making it a significant player in the water utilities industry. Additionally, while Sulzer has engaged in other acquisitions, such as Rotec's Gas Turbine Service Business and ProlabNL B.V., their focus on water treatment through Nordic Water Products aligns them with the water utilities sector.



Water Utilities Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
DegNeunkirchen, North Rhine-Westphalia, Germany501-1000196217
Partners GroupBaar, Zug, Switzerland1001-5000199619
SiemensMunich, Bavaria, Germany10001+184711
NORMA GroupMaintal, Hesse, Germany5001-1000020060
wienerbergerVienna, Vienna, Austria10001+18192
BrenntagEssen, North Rhine-Westphalia, Germany10001+18748
Georg FischerSchaffhausen, Schaffhausen, Switzerland10001+18020
ACP | Allianz Capital PartnersMunich, Bavaria, Germany51-20020060
Technology FundZurich, Zurich, Switzerland11-5020148
eCAPITAL ENTREPRENEURIAL PARTNERSNeunkirchen, North Rhine-Westphalia, Germany11-5019992
BasfLudwigshafen, Rhineland-Palatinate, Germany10001+18651
NestléVevey, Vaud, Switzerland10001+18662
Verve VenturesZurich, Zurich, Switzerland11-50201025
SulzerWinterthur, Zurich, Switzerland10001+18340


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