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Montagu Eyes Smart Water Tech, De-lists Servelec

22 February 2018
Research Note

U.K.-based private equity firm Montagu Funds announced that its takeover of Servelec Group had been sanctioned by the High Court of Justice in England and Wales. Montagu Funds purchased all share capital of Servelec Group at a 19.8% premium over closing US$298 million deal represents a 13x EBITDA multiple.

Through acquisition and development, Servelec has assembled a broad smart water offering to address key pain points for municipal water utilities. The overlap of data collection and analytical solutions has also left many water utilities overwhelmed, data rich, information poor, and software solution fatigued.

Servelec Technologies’ full solution smart water portfolio– spanning data collection, transmission, management, advanced analytics and strategic asset management– will be a key focal point for Montagu, as it seeks growth opportunities in an emerging, yet challenging, municipal market environment.

 

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