The water utilities industry in Europe provides essential services, ensuring clean and safe water supply alongside effective wastewater management. This sector includes companies engaged in water treatment, distribution, and infrastructure development, with a growing emphasis on sustainability and resource efficiency. Recent trends highlight innovation in technology for better water management, alongside increasing investments in renewable sources. As environmental challenges persist, the industry is pivoting towards advanced solutions like smart metering and decentralized systems, aiming to enhance efficiency and reduce waste. The drive for sustainability continues to shape strategies, ensuring water remains accessible for future generations.


This list features a blend of investment types including corporate, private equity, and venture capital, reflecting a spectrum of strategies from growth funding to innovation support. Headquartered in various European cities such as Luxembourg, Paris, and London, these firms vary in size, with employee ranges from small teams to large corporations. Founded between the 1960s and 2015, these investors made a remarkable number of deals in 2024, signaling robust activity. With commitments to sectors like water management and technology, they aim to drive progress and sustainability within the water utilities space.


Top 19 Water Utilities Investors in Europe


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. EIB focuses on supporting sustainable projects across various sectors, including water utilities. In 2024, EIB was involved in significant transactions such as providing debt financing of approximately $369.8 million to The Water Group and $30.9 million to Azienda Comprensoriale Acquedottistica. Additionally, EIB participated in financing for Hera Group and Iren SpA, both of which are key players in the water utilities sector. These transactions highlight EIB's active role in promoting growth and sustainability within the water utilities industry.


2. RSK Group

  • Website: rskgroup.com
  • Type: Corporate
  • Headquarters: Helsby, England, United Kingdom (UK)
  • Founded year: 1989
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: rsk-group

RSK Group is an environmental consultancy and engineering services company based in the UK, founded in 1989. With over 10,000 employees, RSK provides a wide range of services including environmental assessments, engineering solutions, and sustainability consulting across various sectors. In recent years, RSK has made significant strides in the water utilities sector through strategic acquisitions. Notably, in January 2021, RSK acquired Black & Veatch's Water Europe and Water Asia businesses, enhancing its presence in the water sector and increasing its workforce. In May 2022, RSK further strengthened its expertise in the water utility sector by acquiring Watertrain, a leading provider of apprenticeships in this field. Additionally, the acquisition of WGM Engineering in October 2022, which offers engineering services including renewables capabilities, reflects RSK's commitment to expanding its offerings in the water sector. These transactions highlight RSK Group's active role in the water utilities industry, positioning it as a relevant investor in this space.


3. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the water utilities sector, including the acquisition of Saur SAS, a major water services provider, for approximately $1.7 billion in December 2018. Additionally, EQT's Mid Market US Fund acquired Innovyze, a water infrastructure analytics firm, for $270 million in March 2017. These transactions highlight EQT's commitment to investing in the water utilities space, alongside their broader investment activities.


4. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the water utilities sector, such as its participation in the funding round for Kumulus Water, a Tunisian water service startup that raised $969k to enhance its product offerings. Additionally, Bpifrance has invested in other companies like Elydan, CASTALIE, Purecontrol, and ONDILO, which, while not all directly focused on water utilities, demonstrate the investor's broader interest in innovative solutions that may intersect with water management and services.


5. Suez

  • Website: suez.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1997
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: suez

Suez SA is a leading utility company based in Paris, France, specializing in water and waste management. Founded in 1997, Suez has over 160 years of experience in providing essential services to public sector operators and industrial clients, focusing on sustainable practices and innovative solutions for water treatment, waste recycling, and resource management. The company has been actively involved in the water utilities sector through several significant transactions. Notably, Suez acquired a 100% stake in Canaragua, enhancing its operations in Spain, and it also acquired Eagle Water Company, which required a commitment to invest in customer rate adjustments. Furthermore, Suez's acquisition of Nantaise des Eaux Services and Degrémont SAS underscores its strategic focus on expanding its water service capabilities. Additionally, Suez Ventures' backing of Optimatics, a water optimization technology firm, illustrates its commitment to innovation in the water sector. Overall, Suez is a key player in the water utilities industry, addressing critical environmental challenges globally.


6. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship throughout Europe. Founded in 1958, the EIC offers various funding programs, such as the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. In recent years, the EIC has been involved in several transactions relevant to the water utilities sector, including investments in Pydro, which raised over $17 million in a venture round and additional funding through grants, and SolarDew, which focuses on innovative water purification solutions. These transactions highlight the EIC's role in fostering innovation in water management technologies, aligning with its mission to promote advancements across different sectors.


7. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process while promoting diversity and inclusion within its workforce. In recent years, Crowdcube has been involved in several transactions relevant to the water utilities sector, including Hydraloop.com, which raised $4,482,589 in January 2022, focusing on water recycling solutions. Additionally, Salinity Solutions raised $1,906,205 across two transactions in 2021 and 2022, providing innovative solutions for water treatment. Mapal Green Energy, which raised $577,696 in May 2023, also contributes to sustainable water management. These transactions highlight Crowdcube's role in supporting companies that are making strides in the water utilities industry.


8. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, that specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises. Founded in 1994, Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among their notable transactions, Almi has invested in Stockholm Water Technology, which raised funding for market entry and product development in the water sector, and Aqua Robur Technologies, which focuses on efficient measurement of water quality and leakage. These investments highlight Almi's commitment to supporting innovative solutions in the water utilities industry, alongside their broader investment strategy.


9. 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 French company engaged in electricity and water production. Additionally, DEG's involvement in Georgia Global Utilities, which raised substantial debt financing, further highlights its engagement in the water sector. These transactions underscore DEG's commitment to supporting sustainable water utility projects in emerging markets.


10. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market by making minority investments and offering extensive support services to help businesses scale. Notably, BGF has invested in several companies relevant to the water utilities sector, including Skewb, which received £6.25 million to support its growth in providing consultancy and digital transformation services to the energy and water sector. Other relevant investments include Flowline, a drainage contractor, and Wales Environmental, a waste management company, both of which play significant roles in water management. These transactions highlight BGF's commitment to supporting businesses that contribute to the water utilities industry.


11. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, offering training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle the challenges of energy transition and sustainability. Notably, InnoEnergy has participated in several transactions that intersect with water utilities, such as their investment in RVE.SOL, a Portuguese minigrid firm that aims to provide renewable energy and clean water to communities in Kenya. This initiative is set to benefit 15,000 people initially, with plans to expand to 50,000 more by the end of the decade. Additionally, InnoEnergy's involvement with Stockholm Water Technology further emphasizes their engagement in the water sector, as they have supported ventures that focus on water technology and solutions. These transactions illustrate InnoEnergy's commitment to integrating water solutions within their broader focus on sustainable energy.


12. Proparco

  • Website: proparco.fr
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1977
  • Headcount: 201-500
  • Number of deals in 2024: 19
  • LinkedIn: proparco

Proparco is a not-for-profit development finance institution based in Paris, Île-De-France, France, founded in 1977. It supports economic growth in developing countries by providing financial tools, investment funds, and technical assistance to businesses and financial institutions. Proparco focuses on enhancing private sector contributions to sustainable development across various sectors, including agriculture, health, and infrastructure. Notably, Proparco has been involved in significant transactions in the water utilities sector, such as the debt financing of Águas do Rio, which raised over $290 million, and the post-IPO debt for Sabesp, amounting to approximately $198 million. These investments highlight Proparco's active role in financing essential water utility projects, reinforcing its commitment to sustainable development in this critical sector.


13. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited, commonly known as LDC, is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. They focus on fostering long-term partnerships to drive business success through investment and advisory services. Notably, LDC has been involved in several transactions relevant to the water utilities sector, including a significant investment in Waterscan, which raised over $15 million in June 2024. This investment highlights LDC's commitment to supporting companies that contribute to water management and sustainability. Additionally, their portfolio includes companies like Adler & Allan Group and Love Energy Savings, which, while not exclusively water utilities, indicate a broader interest in sectors related to energy and resource management.


14. Pentair

  • Website: pentair.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1966
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: pentair

Pentair plc is a corporate investor based in London, England, founded in 1966. As a leading water treatment company, Pentair provides innovative solutions for residential, commercial, and industrial water management. Their product offerings include pool and spa equipment, water softening and filtration systems, and agricultural products, catering to a diverse customer base that includes homeowners, businesses, and municipalities. Pentair's commitment to sustainable water solutions is evident in their strategic transactions, such as the acquisition of Aquion for $160 million, aimed at enhancing their residential and commercial water treatment capabilities. Additionally, their involvement in the seed round for HOPE Hydration reflects their ongoing investment in innovative water solutions. Overall, Pentair's active participation in the water utilities sector positions them as a relevant investor in this field.


15. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial solutions. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. In recent years, Indutrade has made significant acquisitions relevant to the water utilities sector, including the purchase of acti-Chem A/S, a Danish company specializing in sustainable water treatment solutions, and OCI B.V., a Dutch company that provides customized assemblies for energy and water applications. These acquisitions reflect Indutrade's commitment to enhancing its portfolio in the water utilities industry, showcasing its strategic focus on innovative and sustainable solutions.


16. IK Partners

  • Website: ikpartners.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 14
  • LinkedIn: ik-investment-partners

IK Partners is a private equity firm based in London, England, specializing in mid-market investments across Europe. Founded in 1989, the firm focuses on providing capital and strategic support to businesses in various sectors, including Business Services, Healthcare, Consumer, and Industrials. Notably, IK Partners has made significant strides in the water utilities sector with their recent acquisition of Ipsum Utilities, a company that specializes in infrastructure services for the power and water sectors. This acquisition, announced on March 13, 2023, highlights IK Partners' commitment to enhancing growth and creating long-term value in the water utilities space. Additionally, their diverse portfolio and experience in managing various sectors position them as a versatile investor capable of contributing to the water utilities industry.


17. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They specialize in supporting tech startups that tackle global challenges through investment, accelerator programs, and mentorship. Katapult has been active in various sectors, including climate-tech and ocean-tech. Notably, they have invested in Desolenator, a company focused on innovative water purification solutions, and Flocean, which raised $9 million in Series A funding and may be involved in water-related technologies. Additionally, they have participated in seed rounds for startups like Wegaw and GKinetic Energy, which, while not directly related to water utilities, indicate their engagement in sectors that could intersect with water technology. Overall, Katapult's investment strategy reflects a commitment to impactful technologies, including those that may benefit the water utilities sector.


18. Saur

  • Website: saur.com
  • Type: Corporate
  • Headquarters: Issy-Les-Moulineaux, Île-De-France, France
  • Founded year: 1933
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: saur

Saur is a prominent water management company based in Issy-Les-Moulineaux, Île-De-France, France, founded in 1933. With over 10,000 employees, Saur specializes in providing comprehensive solutions for drinking water and wastewater treatment, serving both municipalities and industries. The company is dedicated to efficient water resource management and sustainability, operating in multiple countries. Saur has made several strategic acquisitions to bolster its position in the water utilities sector, including the acquisition of Aquapor, a leading player in municipal water management in Portugal, which added approximately €120 million in revenues. They also acquired Alliance Environnement, enhancing their capabilities in water, sanitation, and organic waste recovery. More recently, Saur signed an agreement to acquire CirTec, a Dutch company specializing in sustainable water treatment technologies. These transactions reflect Saur's commitment to innovation and expansion within the water utilities industry, making them a key player in the sector.


19. Waterlogic International


Waterlogic International, founded in 1992 and based in Maidenhead, England, is a corporate investor specializing in hydration solutions. The company offers a diverse range of products, including water dispensers, coolers, and instant boilers, catering to businesses and organizations that require reliable hydration solutions. Waterlogic is committed to sustainability and aims to reduce single-use plastic waste. In recent years, Waterlogic has made several strategic acquisitions to enhance its market presence in the water utilities sector. Notable transactions include the acquisition of Aquafree, which expands their product offerings, and the purchase of Pure Life H2O Inc., which allows them to strengthen their operations in Canada. Additionally, their acquisition of Onesource Water, LLC, a provider of point-of-use drinking water systems, significantly enhances their market presence in the US. These transactions reflect Waterlogic's ongoing commitment to growth within the water utilities industry.



Water Utilities Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
RSK GroupHelsby, England, United Kingdom (UK)10001+19893
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
SuezParis, Île-De-France, France10001+19975
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
AlmiStockholm, Stockholm, Sweden201-50019947
DegNeunkirchen, North Rhine-Westphalia, Germany501-1000196217
BgfLondon, England, United Kingdom (UK)51-200201153
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
ProparcoParis, Île-De-France, France201-500197719
LdcLondon, England, United Kingdom (UK)51-200198115
PentairLondon, England, United Kingdom (UK)5001-1000019662
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
IK PartnersLondon, England, United Kingdom (UK)201-500198914
KatapultOslo, Oslo, Norway11-5020178
SaurIssy-Les-Moulineaux, Île-De-France, France10001+19331
Waterlogic InternationalMaidenhead, England, United Kingdom (UK)1001-500019920


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