The municipal water treatment plant construction industry in the US focuses on building and upgrading facilities that ensure clean drinking water and proper wastewater management. This sector includes companies specializing in engineering, consulting, and construction, all operating in a crucial public health space. With growing concerns over water quality, investment in modern technologies and sustainable practices is on the rise. Trends indicate that the industry is leaning towards innovative solutions, such as digital monitoring and green infrastructure, ensuring efficiency while addressing environmental challenges. The push for resilience in the face of climate change makes this industry more vital than ever.


The top investors in municipal water treatment plant construction comprise a mix of corporate, private equity, and venture capital firms. Headquartered across major cities like New York, Washington, D.C., and Virginia, these investors range in size from small firms to large corporations, such as American Water and KKR. Founded from the late 1950s to the early 2000s, these entities made significant moves in 2024, with total investments mapping to various engineering and technological needs in the water sector. Their financial commitment highlights a growing recognition of the need for enhanced water treatment solutions and infrastructure improvements.


Top 17 Municipal Water Treatment Plant Construction Investors in the US


1. U.S. Department of Energy (DOE)

  • Website: energy.gov
  • Type: Corporate
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1977
  • Headcount: 10001+
  • Number of deals in 2024: 597
  • LinkedIn: u-s--department-of-energy

The U.S. Department of Energy (DOE) is a public entity established in 1977, responsible for overseeing national energy policy, energy production, and nuclear power research. It serves various stakeholders, including government entities and the public, by providing guidance on energy efficiency, funding opportunities, and conducting research to address energy challenges. In recent years, the DOE has been active in providing grants to support projects that enhance water treatment capabilities and energy efficiency. For instance, the Coastside County Water District received a $300,000 grant in October 2023, which can be linked to municipal water treatment efforts. Additionally, Membrion, which raised $3,150,000 in a grant in February 2019, is involved in water filtration technology, further illustrating the DOE's engagement in projects that intersect with water treatment. Other grants awarded to companies like M. Davis & Sons and Advance Design Consultants also reflect the DOE's commitment to supporting initiatives that can improve water treatment infrastructure and processes.


2. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, facilitating access to capital and expertise to foster economic growth. IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Notably, IFC has participated in several significant transactions in the water treatment sector, including leading Series B and C financing rounds for Organica Water, a provider of innovative wastewater treatment solutions. These investments were aimed at supporting Organica's global expansion, the launch of new wastewater treatment plant designs, and R&D activities. Additionally, IFC has invested in Aqualyng, further emphasizing its commitment to advancing water treatment technologies. Through these initiatives, IFC plays a crucial role in enhancing municipal water treatment infrastructure and sustainability.


3. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR provides asset management solutions to institutional investors and individual clients, helping them navigate complex investment landscapes to achieve strong financial returns. KKR operates globally, leveraging its extensive expertise and resources to support its clients' investment needs. Notably, KKR has made significant investments in the water treatment sector, including a $1.5 billion acquisition of a stake in United Envirotech, a Singapore-based water treatment company, in partnership with CITIC. This acquisition aims to enhance their presence in China's water and wastewater treatment sector. Additionally, KKR acquired a 25% stake in Northumbrian Water Group Limited for approximately £870 million, further solidifying its commitment to the water industry. These transactions highlight KKR's strategic focus on water treatment, making them a relevant player in the municipal water treatment plant construction space.


4. Bowman Consulting

  • Website: bowman.com
  • Type: Corporate
  • Headquarters: Reston, Virginia, United States (USA)
  • Founded year: 1995
  • Headcount: 1001-5000
  • Number of deals in 2024: 8
  • LinkedIn: bowman-consulting

Bowman Consulting Group Ltd. is an engineering and consulting firm based in Reston, Virginia, founded in 1995. The firm provides a wide range of services, including civil/site engineering, transportation engineering, and environmental consulting. They cater to both government agencies and private sector companies, ensuring compliance and efficiency in infrastructure project execution. Notably, in 2024, Bowman acquired Element Engineering LLC, a firm specializing in civil, water, and wastewater engineering services, which is expected to enhance their national water-wastewater practice. This acquisition, along with others such as McMahon Associates, Inc. and Trudell Consulting Engineers, showcases Bowman's strategic focus on expanding their expertise in sectors critical to municipal water treatment plant construction.


5. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments across various sectors, including private equity, real estate, and credit solutions. Founded in 1985, Blackstone has built a reputation for delivering lasting value through its extensive portfolio and strategic investments. Notably, Blackstone has made significant investments in firms that are directly related to environmental engineering and infrastructure development. For instance, its acquisition of a majority stake in Geosyntec Consultants for $380 million highlights its commitment to the growing demand for environmental services, which are essential for projects like municipal water treatment plants. Additionally, Blackstone's investment in Salas O’Brien, an engineering and technical services firm, further emphasizes its focus on sectors that support infrastructure projects. Furthermore, the investment in Nagarjuna Construction Company, which aims to expand its capital base for public-private infrastructure projects, aligns with Blackstone's strategy of engaging in sectors that can impact municipal water treatment and other essential services.


6. Nv5

  • Website: nv5.com
  • Type: Corporate
  • Headquarters: Hollywood, Florida, United States (USA)
  • Founded year: 1947
  • Headcount: 1001-5000
  • Number of deals in 2024: 10
  • LinkedIn: nv5

NV5 is a consulting and engineering company based in Hollywood, Florida, founded in 1947. The firm provides technology, conformity assessment, and consulting solutions for infrastructure, utility, and building systems, serving both public and private sector clients. With over 100 offices, NV5 offers a diverse range of services, including environmental consulting, geospatial solutions, and construction quality assurance. Notably, NV5 has made strategic acquisitions to enhance its capabilities in relevant sectors. For instance, the acquisition of Alta Environmental, L.P. in 2019, a firm specializing in environmental services, positions NV5 to engage in projects related to municipal water treatment. Additionally, their acquisition of Gaudet Associates Inc. in 2023, which focuses on owner representation in facility development, further strengthens their involvement in infrastructure projects, including potential water treatment facilities. These transactions highlight NV5's commitment to improving efficiency and resilience in infrastructure projects, making them a significant player in the municipal water treatment plant construction sector.


7. American Water

  • Website: amwater.com
  • Type: Corporate
  • Headquarters: Camden, New Jersey, United States (USA)
  • Founded year: 1886
  • Headcount: 5001-10000
  • Number of deals in 2024: 34
  • LinkedIn: american-water

American Water, founded in 1886 and headquartered in Camden, New Jersey, is a public entity that provides essential water and wastewater services to approximately 3.4 million customers across the United States. The company operates in the water utility industry, ensuring a clean and safe water supply while managing wastewater treatment. Their services cater to residential, commercial, and governmental clients, emphasizing community support and environmental stewardship. In recent years, American Water has made several strategic acquisitions to enhance its service offerings, including the acquisition of the Metro East Sanitary District's wastewater system for $8.4 million in November 2024, which added approximately 5,600 customers to their service area. Additionally, they acquired the Sellersburg water utility for $3.1 million in September 2024. These transactions highlight American Water's commitment to expanding its municipal water services and improving infrastructure, making them a relevant investor in the municipal water treatment plant construction sector.


8. DXP Enterprises, Inc.

  • Website: dxpe.com
  • Type: Corporate
  • Headquarters: Houston, Texas, United States (USA)
  • Founded year: 1908
  • Headcount: 1001-5000
  • Number of deals in 2024: 6
  • LinkedIn: dxp-enterprises-inc-

DXP Enterprises, Inc. is an industrial distributor based in Houston, Texas, providing a wide range of products and services across various sectors, including manufacturing, oil and gas, and renewable energy. Founded in 1908, the company specializes in rotating equipment, supply chain management, and safety solutions, helping businesses enhance operational efficiency. Recently, DXP has made significant strides in the water treatment sector through several strategic acquisitions. In 2024, they acquired Hartwell Environmental Corporation, a manufacturer’s representative focused on the water and wastewater industry, which reported sales of approximately $18.4 million. Additionally, they acquired Kappe Associates, a distributor in the water and wastewater industry, with sales of about $25.4 million. These acquisitions, along with others like Riordan Materials Corporation and Sullivan Environmental Technologies, highlight DXP's commitment to enhancing its capabilities in the water treatment market, making them a relevant player in municipal water treatment plant construction.


9. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is an investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services including wealth management, investment banking, and capital markets. With a global presence and a workforce of over 10,000 employees, Morgan Stanley leverages its expertise to provide tailored financial solutions to individuals, families, corporations, and governments. Notably, Morgan Stanley Infrastructure Partners has made significant investments in the water sector, including the acquisition of Seven Seas Water Group, a leader in Water-as-a-Service solutions, and XRI Blue, a company focused on water supply and pipeline transportation. These transactions highlight Morgan Stanley's commitment to enhancing water infrastructure, making it a relevant player in the municipal water treatment plant construction industry.


10. Tetra Tech

  • Website: tetratech.com
  • Type: Corporate
  • Headquarters: Pasadena, California, United States (USA)
  • Founded year: 1966
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: tetra-tech

Tetra Tech, Inc. is a leading consulting and engineering firm based in Pasadena, California, specializing in water management, environmental services, and sustainable infrastructure solutions. Founded in 1966, Tetra Tech serves both government and commercial clients, leveraging advanced technologies and local expertise to address complex challenges in resource management and compliance. The firm has been actively involved in various acquisitions to enhance its capabilities in the water sector. Notably, their acquisition of IBRA-RMAC Automation Systems, Inc. in April 2021 aims to bolster their digital water system business, specifically targeting municipal and commercial sectors. This strategic move highlights Tetra Tech's commitment to improving water treatment solutions. Additionally, their acquisition of Piteau Associates Engineering in March 2022 further strengthens their engineering capabilities in water management, making them well-positioned to contribute to municipal water treatment plant construction projects.


11. MassVentures

  • Website: mass-ventures.com
  • Type: Venture Capital
  • Headquarters: Waltham, Massachusetts, United States (USA)
  • Founded year: 1978
  • Headcount: 1-10
  • Number of deals in 2024: 28
  • LinkedIn: massventures

MassVentures is a venture studio based in Waltham, Massachusetts, founded in 1978. It specializes in supporting early-stage companies, particularly those focused on deep tech innovation. The firm offers a variety of funding options, including venture capital and grants, along with business guidance and accelerator programs. Notably, MassVentures has participated in funding rounds for Aclarity, Inc., which has developed the Octa™ system aimed at eradicating PFAS contaminants—a critical concern in municipal water treatment. In 2023, MassVentures contributed to Aclarity's Series A funding of $15.9 million and has also provided multiple grants to the company, demonstrating a commitment to advancing technologies that address water quality issues. This involvement highlights MassVentures' relevance in the context of municipal water treatment plant construction.


12. Echo River Capital

  • Website: echorivercap.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2022
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: echo-river-cap

Echo River Capital is an investment firm based in San Francisco, California, founded in 2022. The firm specializes in early-stage water technology companies and emphasizes impact investing to tackle global water challenges. They provide capital and strategic support to startups aiming to enhance water management and sustainability. Notable transactions include investments in companies like Aclarity, which raised $3.3 million in a seed round, and Epic Cleantec, which raised $12 million in a Series B round. These investments indicate a commitment to innovative solutions in the water sector, making Echo River Capital a significant player in the water technology landscape.


13. Elemental Impact


Elemental Impact is a not-for-profit organization based in Honolulu, Hawaii, founded in 2012. Their mission is to scale climate technologies with a strong emphasis on community impact. They provide funding opportunities, community engagement strategies, and educational resources to support climate technology companies and local governments in deploying sustainable solutions. In recent transactions, Elemental Impact has been involved with companies like DigitalPaani, which raised $1.2 million to expand its technology for wastewater treatment plants across India. This involvement highlights their commitment to enhancing water treatment solutions, making them a relevant player in the municipal water treatment plant construction sector. Additionally, their support for companies like Cambrian Innovation and Microvi Biotechnologies further demonstrates their focus on innovative water treatment technologies.


14. Oaktree Capital Management, L.P.


Oaktree Capital Management, L.P. is a prominent asset management firm based in Los Angeles, California, specializing in alternative investment strategies. Founded in 1995, the firm manages a diverse range of investment products, including credit, private equity, real estate, and listed equities, primarily serving institutional investors and high-net-worth individuals. Oaktree is known for its commitment to delivering superior investment results while managing risk through in-depth research. Recently, Oaktree has made significant strides in the water treatment sector, notably acquiring Aqseptence Group, a German company specializing in water treatment and liquid/solid separation technologies. This acquisition highlights Oaktree's strategic interest in the water treatment industry. Additionally, their acquisition of MWH Constructors, a company specializing in construction and engineering services, further emphasizes their involvement in infrastructure projects, including those relevant to municipal water treatment plant construction. These transactions demonstrate Oaktree's active role in sectors that intersect with municipal water treatment initiatives.


15. Watts Water Technologies

  • Website: watts.com
  • Type: Corporate
  • Headquarters: North Andover, Massachusetts, United States (USA)
  • Founded year: 1874
  • Headcount: 5001-10000
  • LinkedIn: watts-water-technologies

Watts Water Technologies, founded in 1874 and based in North Andover, Massachusetts, is a leading provider of plumbing and HVAC solutions, specializing in a wide range of products for water management, heating, and drainage systems. The company serves contractors, builders, and facility managers across residential, commercial, and industrial sectors. Notably, Watts has made several strategic acquisitions to enhance its product offerings relevant to water treatment. For instance, the acquisition of Ames Co., Inc. in 2000 allowed Watts to strengthen its position in the fire protection market with backflow prevention valves, a critical component in municipal water systems. Additionally, the acquisition of HF Scientific in 2005 further expanded its capabilities in water quality monitoring, which is essential for municipal water treatment plants. These transactions highlight Watts' commitment to providing essential solutions for water management, making it a relevant player in the municipal water treatment plant construction industry.


16. Franklin Electric


Franklin Electric Co., Inc. is a corporate investor based in Fort Wayne, Indiana, founded in 1958. The company specializes in manufacturing and distributing water and energy management systems, providing a wide range of products including pumps, motors, and controls for various applications across residential, commercial, agricultural, and industrial sectors. Franklin Electric has been active in expanding its presence in the water sector through strategic acquisitions. Notably, they acquired Industrias Rotor Pump SA, an Argentinian provider of water pumping equipment, which enhances their Water Systems segment. Additionally, their acquisition of Milan Supply Company, a groundwater distributor, further solidifies their position in the water market. These transactions demonstrate Franklin Electric's commitment to quality and innovation in water management, making them a significant player in the municipal water treatment plant construction industry.


17. A. O. Smith Corporation

  • Website: aosmith.com
  • Type: Corporate
  • Headquarters: Milwaukee, Wisconsin, United States (USA)
  • Founded year: 1874
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: a.-o.-smith-corporation

A. O. Smith Corporation is a leading manufacturer specializing in water heating and treatment solutions, founded in 1874 and headquartered in Milwaukee, Wisconsin. The company provides a diverse range of products, including residential and commercial water heaters and boilers, catering to both businesses and consumers. A. O. Smith has been actively expanding its footprint in the water treatment sector through strategic acquisitions. Notable transactions include the acquisition of Atlantic Filter Corporation, Master Water Conditioning Corporation, and Water-Right, Inc., all of which enhance its capabilities in water treatment. These acquisitions reflect A. O. Smith's strategy to strengthen its position in the North American water treatment market, making it a relevant player in the municipal water treatment plant construction industry.



Municipal Water Treatment Plant Construction Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
U.S. Department of Energy (DOE)Washington, D.C., District Of Columbia, United States (USA)10001+1977597
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
KkrNew York, New York, United States (USA)1001-5000197674
Bowman ConsultingReston, Virginia, United States (USA)1001-500019958
BlackstoneNew York, New York, United States (USA)1001-5000198557
Nv5Hollywood, Florida, United States (USA)1001-5000194710
American WaterCamden, New Jersey, United States (USA)5001-10000188634
DXP Enterprises, Inc.Houston, Texas, United States (USA)1001-500019086
Morgan StanleyNew York, New York, United States (USA)10001+198679
Tetra TechPasadena, California, United States (USA)10001+19662
MassVenturesWaltham, Massachusetts, United States (USA)1-10197828
Echo River CapitalSan Francisco, California, United States (USA)1-1020225
Elemental ImpactHonolulu, Hawaii, United States (USA)51-200201219
Oaktree Capital Management, L.P.Los Angeles, California, United States (USA)1001-5000199520
Watts Water TechnologiesNorth Andover, Massachusetts, United States (USA)5001-1000018740
Franklin ElectricFort Wayne, Indiana, United States (USA)5001-1000019580
A. O. Smith CorporationMilwaukee, Wisconsin, United States (USA)10001+18743


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