Commercial Due Diligence

Acquisition strategies in the water sector require highly specialized understanding of each segment’s unique dynamics from a regulatory, technology, and financial perspective. From helping companies identify targets to feed into their M&A pipeline to actually vetting the commercial opportunity, Bluefield provide core components of the due diligence process, paving the way for a smooth transaction and allowing investors to advance their portfolios with confidence.

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In-depth assessment of investment targets positioning

Market opportunity quantification and prioritization strategy

Key project profiles assessment

Competitive landscape review and competitors' strategy analysis

Competitive landscape and comparative business model analysis

Growth outlook and recommendations

Project References

Bluefield has advised on a number of high-profile water-related deals including:

Warren Equity Successfully Divests USA Water

After building up USA Water as a Texas O&M services platform, Warren chose Bluefield to support its positioning of the firm for its next phase of growth. Bluefield analyzed the outlook of the Municipal Utility District market, providing forecasts for growth and an overview of recent transactions leveraging its unrivaled O&M market data platform.
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H2O Innovation Take Private

Bluefield provided incisive analysis breaking down H20 Innovation's multi-faceted business model (OEM, O&M services provider, chemicals distributor) to support Ember Infrastructure's bid to acquire the firm and place it under private ownership.
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Pennybacker Capitalizes Cambrian Innovation Growth

Pennybacker Capital hired Bluefield to assess Cambrian Innovation's highly fragmented, fast-growing industrial wastewater treatment market. Bluefield provided in-depth, vertical-specific analysis of market growth potential and competitive insight to give the fund confidence in its $200 million growth equity commitment to the outsourced treatment solutions player.
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Platform Partners Exits Entrenched Trenchless Player Vortex

Platform Partners successfully sold trenchless pipe player Vortex Companies to Quad-C with Bluefield supporting its framing of the US market opportunity. Bluefield provided key views of the US pipe rehabilitation industry to potential investors, showing steady growth for key players such as Vortex in a consolidating market environment.
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AMCS Group Taps US Market with Utility Cloud Acquisition

Leading waste management software solutions provider AMCS sought to diversify into the water and wastewater industry within its service footprint. The firm contracted Bluefield to provide a complete, structured, analytical view of acquisition targets which included New Hampshire-based Utility Cloud. Bluefield filtered, profiled, and contacted dozens of potential targets, leading to AMCS’ first move into the US water utility software market.
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New Mountain Capital Builds Water Platform with Inframark

In its largest foray into the water sector, NMC contracted Bluefield to support its due diligence of this leading O&M services provider. Leveraging Bluefield's unmatched O&M contract data and market know-how to assess the value of PPC Enterprises and Alston Capital's offering, NMC closed on the deal that evolved into a key piece of the firm's larger portfolio in the water sector.
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"I have promoted Bluefield Research to engineering consultants and potential new customers as being the market due diligence that complements and de-risks technical scopes of work. Their findings helped us re-think our design and has been used to change our internal narrative around project viability."
Growth ManagerAustralian Utility