BDT and Mubadala strengthen ties with acquisition of Culligan

BDT Capital Partners (BDT), Mubadala Investment Company and its asset management subsidiary, Mubadala Capital (Mubadala), on Monday announced the transaction close of the acquisition of Culligan International (Culligan), the global leader in sustainable water solutions and services.

BDT Capital Partners, affiliated with BDT & Co, a merchant bank that provides closely held businesses with long-term, differentiated capital, along with strategic co-investing families and institutions, acquired a majority interest in Culligan from Advent International and Centerbridge Partners in a transaction that was first announced in May 2021.

Mubadala provided a significant capital commitment as an anchor partner in the transaction. Advent will also retain a minority stake in Culligan going forward. Financial terms of the transaction were not disclosed.

“We are pleased to announce the closing of the acquisition of Culligan, a leader in the consumer water treatment and sustainable water solutions market led by CEO Scott Clawson and an exceptional management team,” said San Orr, President of BDT Capital Partners.  “We are also pleased to have Mubadala invest alongside us in this transaction given their global presence, long-term capital and our deep relationship with them since the founding of BDT.”

 Adib Mattar, Head of Private Equity at Mubadala Capital, added: “We have built our Private Equity business around identifying world class management teams that operate market leading businesses. Culligan is a prime example of adhering to this strategy and pairs well with our interest in profitably investing in businesses where ESG is at the core of their value proposition to the market, namely the delivery of clean drinking water on a global basis and reducing the use of single use plastic bottles through innovative water solutions, among others. We have been successfully partnering with BDT since their founding and look forward to continuing to build on that relationship with this latest investment.”

Culligan was founded by Emmett Culligan in Illinois, USA in 1936 and sells products and services for water filtration and treatment around the globe. Today, Culligan is the largest player in the sector with over 35 brands in 90 countries. Culligan Middle East established a presence in Dubai over 20 years ago and has since grown to be one of the largest and most diverse water treatment companies in the Gulf region.

Today, Culligan Middle East operates through facilities in Abu Dhabi, Dubai, Sharjah and Qatar. In 2014, Culligan Middle East opened a new Manufacturing facility in Dubai Techno Park. This 10,000m2 site is a purpose-built, integrated manufacturing, sales and service centre, including facilities for equipment fabrication, chemical blending and water bottling.

Mubadala sponsors GMIS: Mubadala Investment Company announced that it will be the title sponsor for the Global Manufacturing and Industrialisation Summit (GMIS) for the fourth consecutive time. Taking place under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai, the fourth edition of the event will run from November 22-27 in parallel with EXPO Dubai.

Focusing on the theme Rewiring Societies: Repurposing Digitalization for Prosperity, the event will explore how the Fourth Industrial Revolution (4IR) can be leveraged to enhance productivity across the manufacturing ecosystem and create shared value for organizations globally. The Summit will also feature the UAE’s first tech-driven manufacturing exhibition showcasing the latest innovations in technology and products.

Mubadala’s participation will see the organization highlight recent changes among its national champions including Strata Manufacturing (Strata), Al Yah Satellite Communications Company (Yahsat) and Sanad Group (Sanad). As industry partners for GMIS, the three companies reinforce Mubadala’s role in the commitment to driving economic transformation across the nation.

Umayma Abubakar, Director of Executive Communications and Corporate Center, said: “We are proud to announce our role as a title sponsor for the fourth edition of GMIS. As a Summit focusing on the latest trends and innovative solutions for the manufacturing sector, Mubadala’s participation will underscore our advancements in the fields of technology and industry, shedding light on our growth strategies, to make a tangible impact on communities worldwide, in line with our objectives to position the UAE as a global hub for advanced technology.”

“With the event taking place in parallel to EXPO 2020, we look forward to exploring more collaborative opportunities with the public and private entities and contributing to the UAE’s economic growth and diversification.”

Mubadala’s sponsorship in GMIS 2021 follows the sovereign wealth fund’s increased focus on the technology and manufacturing sectors, including its role in a consortium to invest a total of $2.25 billion in Waymo, the self-driving technology company owned by Alphabet, the parent company of Google. Waymo is a proven leader in self-driving technology and is the only autonomous vehicle company with a public ride-hailing service.