BDT Capital Partners and Mubadala Strengthen Partnership with Acquisition of Culligan International

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

BDT Capital Partners, LLC (“BDT”), affiliated with BDT & Co., LLC, 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 marketled 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 center, including facilities for equipment fabrication, chemical blending and water bottling.

About MubadalaInvestment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.    

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.

For more information about Mubadala Investment Company, please visit: www.mubadala.com

About Mubadala Capital
Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi. In addition to managing its own balance sheet investments, Mubadala Capital manages c. $9 billion in third-party capital vehicles on behalf of institutional investors in four of its businesses, including three private equity funds, two early stage venture funds, a public fund and a fund in Brazil focused on special situations. The various businesses invest across the capital structure in both public and private securities.

About BDT Capital Partners
BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital. The firm has raised over $18 billion across its investment funds and its global investor base has invested an additional $10 billion of debt and equity in the funds’ portfolio companies.  The firm’s affiliate, BDT & Company, is a merchant bank that works with family- and founder-led businesses to pursue their strategic and financial objectives.  BDT & Company provides solutions-based advice and access to a world-class network of business owners and leaders.

Authors