Advised on Purchase of Company

Energy & Utilities

Saur SaS

Provider of delegated management for environmental services France

Acquired 100% of Business Operations

Aqua-Chem Inc.

Water treatment technologies United States of America

Advised Saur Group on its acquisition of Aqua-Chem

Capstone Partners (IMAP USA) advised Saur Group — a leading service provider in the global water management sector and a portfolio company of EQT — on its acquisition of Aqua-Chem. Terms of the deal were not disclosed.


Saur Group is a French environmental services company that supports local authorities and industries in their development projects related to water, waste management, engineering, infrastructure services, and leisure activities. Saur serves approximately 7,000 French municipalities under long-term contracts. With operations in over 20 countries and 60 active patents for water-related innovations, Saur serves 30 million people with 700 billion liters of clean drinking water annually. The company’s service offerings include optimizing water resources and operations, wastewater treatment, waste recovery and recycling, as well as engineering and product design.


Headquartered in Knoxville, Tennessee, Aqua-Chem specializes in water purification, with market-leading technologies in vapor compression distillers, reverse osmosis, pure steam generation, and pre-treatment solutions. Aqua-Chem focuses primarily on the North American market where it generates about 70% of its revenues. The company employs 165 people worldwide and services a highly diversified client base of more than 300 customers across its four end markets of pharmaceuticals, beverage, energy, and military.

Experts who worked on the transaction