- Biwater receives investment from Sustainable Growth Management fund to support rapid growth plans
Surrey, UK – 17 September 2020: Luxembourg-based Sustainable Growth Management fund (SGM), with an asset value of over €200 million, has invested in Biwater to support the water treatment company’s rapid growth plans.
SGM’s injection of capital and ongoing financial collaboration will assist Biwater with both the successful implementation of existing contracts in Africa and USA and the expansion of the group’s major projects department for contracts expected to be awarded imminently in Latin America and the Middle East.
With construction of Biwater’s contracts in Ghana and Cameroon due to commence in the 4th quarter of 2020, alongside the imminent project awards expected in the Americas and Middle East in the same period, Biwater’s management teams have been working with SGM to create the most effective corporate environment that will allow both streams to proceed unimpeded.
Paul Stevens, Biwater’s Chief Executive Officer, stated: “This is an exciting period of growth for Biwater, and we are delighted to have partnered with SGM who are keen to assist the company in recognising its great potential for providing sustainable desalination, water and wastewater solutions, backed by affordable funding packages, to the global water market. This support from SGM along with existing exporter facilities provided by Banco Santander, will help the Group provide the water solutions urgently needed by our clients.
This is particularly important given the added challenges currently facing governments as a result of the coronavirus pandemic. We believe now more than ever that investing in water and sanitation projects is key to tackling these health challenges, underpinning social stability and economic growth for these water-stressed nations”.
SGM’s Managing Partner Jennifer Wick commented: “SGM is focused on providing growth capital to companies like Biwater which have a proven ability to provide environmentally friendly large-scale water treatment projects, improving the lives of millions of people in a sustainable way. We are very pleased to be partnering with Biwater to help the company use its experience from the last 50 years to help cement its positon as a global leader in the water market, and propel the business into a new era of growth.”Back to Newsroom
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