In addition to the normal flow of M&A, investment activity, projects, and technology introductions, the last two weeks have put water scarcity concerns in the limelight. Not only is water scarcity expected to be one of the main barriers to growth for India in the upcoming years, but Trillium Asset Management is calling out companies that don’t yet focus on factoring water risk into their bottom line. It’s a good thing we also saw a new report on water reuse and how it may even be healthier for us than drinking water – it’s a sustainable water source that we can’t (and shouldn’t!) run away from. Read below for details on these stories and more:
- Badger Meter signed a definitive agreement to acquire Racine Federated Inc. of Racine, Wis., and its subsidiary located in Thetford, England, for approximately $57 million in cash. The acquisition of Racine Federated reportedly gives Badger Meter several new flow measurement technologies, strong brands, a robust distribution channel and skilled employees.
- Northumbrian Water closed a £360 million ($550 million) 30-year bond, rated Baa1/BBB+ (Moody’s/S&P) and priced at 203bp over Gilts for a 5.125% coupon.
- Wessex Water also issued a £200 million 9-year