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Market Research Report

Water Mergers & Acquisitions: Key Trends in a Changing Global Landscape

Published by Bluefield Research Product code 478531
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Water Mergers & Acquisitions: Key Trends in a Changing Global Landscape
Published: April 26, 2017 Content info:
Description

Water related M&A activity has been robust over the last three years, surpassing US$57 billion, globally, since the start of 2014. Intensifying concerns over water scarcity, water resource contamination, and shortfalls in municipal infrastructure investment drive a surge in optimism for growth and deal flow.

This new report from Bluefield Research evaluates the outlook, opportunities and trends in the water sector and impacts on the competitive landscape.

Bluefield analyzes 447 deals, the lion's share of which centers largely on developed markets. The data shows there are no boundaries to M&A, as Asian investors look abroad, Brazil attracts foreign infrastructure investors, and technology solutions are applicable to developed and developing markets alike.

Key questions addressed:

  • What factors are driving M&A?
  • Which market segment is driving deal-flow?
  • How do EBITDA multiples vary by segment?
  • What role are financial investors playing?
  • Which countries are attracting the most activity?
  • What are the trends in utility and asset water acquisition, globally?
  • What trends do the transactions indicate year over year?

KEY FEATURES

  • Bottom-up M&A data from 2014-2016 (Excel)
  • Deal-flow analysis by quarter and year, 2014-2016
  • M&A trends by industry segment- acquirer & target
  • Analysis of acquiring companies and trends
  • Global technology, equipment & services activity
  • Global utility and treatment equity stakes
  • U.S. investor owned utility deal analysis
  • Company geography & deal flow map
  • EBITDA multiples by deal segment for announced companies
  • Key player types: treatment technology, smart water, EPC firms, financial investors, energy services, diversified industrials

COMPANIES MENTIONED

Advent International // Affinity Water // Allete // AMEC-Foster Wheeler // American Water // Anglian Water // Aqua America // Aqualia Spain // Arcadis // Beijing Water Enterprises // Bentley Systems // BEWG // CEDAE // CH2M // China Everbright // CITIC Envirotech // COPASA // Danaher // Ecolab // EQT // Evoqua // Ferguson Enterprises // Forterra // GE // Groupe Saur // Grupo Agbar // Gruppo Hera // Hitachi // Honeywell // IDE Technologies // Itochu // Itron // Jacobs // Kangda Environmental Protection // Kemira // KKR // Kurita Water Industries // LG Chem // Liberty Utilities // Lyonnaise Des Eaux // Marubeni // Mitsubishi Corporation // Mitsui // Mueller Water Products // MWH Global // Northumbrian Water // Odebrecht // Parsons Brinkerhoff // Pentair // Pure Technologies // SABESP // SANEPAR // Severn Trent // SIIC Environment Holdings // Sojitz // Solenis // Southern Water // Southwest Water // Suez // Sumitomo // Tetra Tech // Thames Water // Trility // Trimble // United Utilities // URS // Veolia // Westlake Chemical // Wood Group // Xylem // Yorkshire Water

Table of Contents

Table of Contents

EXECUTIVE SUMMARY

SECTION 1 // Underlying Drivers for M&A

  • Stressed Markets on the Rise
  • A Scaling Roster of Water-Stressed Countries
  • U.S. Declining Federal Funds Give Way to Localities
  • Europe's Regional Historical Investment Trends
  • Industrial Bottom-line Enables Innovation
  • U.S. Power Sector Drivers & Trends Overview
  • Rebounding Energy Markets
  • U.S. Smart Water Market Amidst Global Peers

SECTION 2 // Global M&A Trends

  • Key Segments for Investment
  • Key Sectors Demonstrate Market Shift, Market Dynamics
  • M&A Deal Flow by Target Segment
  • EBITDA Multiples by Target Sector
  • M&A Deal Flow by Focus Area

SECTION 3 // Technology, Equipment, Services

  • Strategic Buyers Seek Scale
  • M&A Impacts on Global Rankings of Water & Wastewater EPCs
  • Consolidation Continues for EPC Firms
  • Water-Related M&A Activity in Hydraulic Fracturing
  • Smart Water M&A Activity Across the Value Chain
  • Financial Investors Looking for Payback

SECTION 4 // Global Utility & Assets M&A

  • Country Positioning: Private Participation Trend vs. Market Concentration
  • Global Water Utilities: Movers & Shakers
  • Japanese Trading Houses Seek-out Water Investments
  • Key Markets Anchor Japanese Water Portfolios
  • Beijing Water, Chinese Extend International Reach
  • Key Brazil Deals to Shift Near-term Rankings
  • UK Utility Ownership Under Review
  • Italy Water Sector Consolidation Overview
  • U.S. Investor Owned Utility Deals
  • Fair Market Value States Draw Outsiders
  • US Water Investor-owned Utility Valuations
  • M&A Activity for Desalination Assets

EXHIBITS

EXECUTIVE SUMMARY

  • Research Methodology & Assumptions
  • M&A Deal Flow by Region

SECTION 2

  • Regional Population Growth, 1950-2050
  • Roster of Water-Stressed Countries
  • Public Spending for Water Utilities, Federal vs. State Funding, 1956-2014
  • Public Spending for Water Utilities, Capital and Operation and Maintenance, 1956-2014
  • Average Historical CAPEX/GDP Ratio
  • Evaluating Industrial Vertical Market Attractiveness
  • Henry Hub Natural Gas
  • Spot Price
  • Announced Power Capacity Additions & Retirements
  • Water for Power Related Capital Expenditures Forecast
  • U.S. Horizontal Drill Rig Counts
  • Energy Sector Bankruptcy Filings
  • Global Smart Water Markets

SECTION 3

  • Key Segments for Investment
  • Number of Deals By Quarter (Q1 2014 - Q4 2016)
  • Number of Water Related Deals by Segment, Q1 2014 - Q1 2017
  • Disclosed Values of Acquisitions
  • Technology, Equipment & Services Deal Value & Multiples

SECTION 4

  • Deal Number by Acquiring Company Segment, 2013 - Present
  • Strategic Buyers Seek Scale
  • Leading Water & Sewer Design Firms & Largest Acquisitions
  • Largest EPC Acquisitions
  • Select M&A Deals for Fracking by Company
  • Smart Water M&A Activity
  • Financial Investors Looking for Payback

SECTION 5

  • Private Participation Trend vs. Market Concentration
  • Top 50 National Private Water Utilities by Revenues
  • Transactions by Japanese Trading House
  • Transactions by Water Segment
  • Key Markets Anchor Japanese Water Portfolios
  • Beijing Enterprises Water Group Global Overview
  • Key Brazil Deals to Shift Near-term Rankings
  • Water & Sewerage Company Ownership
  • Italy Water Sector Consolidation Overview
  • Pending and Executed IOU Deals, 2016
  • Top 3 Deals Closed in Q4 2016
  • Fair Market Value States Draw Outsiders
  • US Water Investor-owned Utility Valuations
  • Key Desalination M&A DealsWater Merg
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