Gradiant acquires majority stake in Aquarion, a Swiss technology leader in industrial wastewater and ultrapure water business

Press release – for immediate distribution

Gradiant acquires majority stake in Aquarion, a Swiss technology leader in industrial wastewater and ultrapure water business

Acquisition adds a significant portfolio of water technologies to Gradiant, a US$1.0 billion water company based in Boston and Singapore

Luxembourg, Boston. Zurich, September 29, 2023 - Sustainable Growth Fund I and II ("SGF I" and "SGF II") today announced that it has sold a majority stake in Aquarion AG (“Aquarion”)  to Gradiant, a US$1.0 billion water company based in Boston and Singapore that has raised total funding of over US$400 million to date. The acquisition adds a significant portfolio of water technologies to Gradiant's already robust product offering. In particular, this includes entry into the semiconductor business in Germany and Asia, as well as strong capabilities in Food & Beverage, Chemicals, Oil & Gas, Pulp & Paper, Municipal Sludge Treatment and other products in ultrapure water and wastewater.

Aquarion is a Swiss-based industrial wastewater company and is a global provider of advanced industrial water treatment, reuse and purification systems. With its patented technologies, the company provides innovative solutions primarily to the industrial sector, including the Semiconductor, Oil & Gas, Food & Beverage, Pulp & Paper and Municipal Sludge Treatment. Other areas of strength include desalination, zero liquid discharge, spent caustic treatment and water reuse.

Gradiant designs, builds, and operates end-to-end water treatment solutions for the world’s most important industries, including semiconductors, pharmaceuticals, food & beverage, lithium and critical minerals, and renewable energy. The company’s proprietary technologies and integrated digital solutions reduce water usage, reclaim valuable resources, and renew wastewater into freshwater for some of the world’s largest companies, including Micron, TSMC, GSK, Pfizer, SLB, Rio Tinto, AB InBev, and Coca-Cola.

Jennifer L. Wick, Co-Founder of SGF I and SGF II and Chairman of the Board of Aquarion AG and Geschäftsführer of H+E GmbH, stated: “This is the right next step for Aquarion’s fast-growing industrial wastewater and ultrapure water business to be acquired by Gradiant and enables the company to continue to grow at a rapid pace in many geographies including Asia, Middle East and the United States.”

SGF is an SCSp, SICAV-SIF located in Luxembourg, with a mandate to invest in mid-cap sustainable companies. SGF II is an Article 9 fund and won several impact fund of the year awards.

Media contact:
Christophe Lamps
Dynamics Group
cla@dynamicsgroup.ch
+4179 476 26 87