Law firm advises on sale of water infrastructure specialist
International law firm CMS has advised water infrastructure solutions specialist Aquam Corporation on the sale of Aquam Water Services (AWS) and Orbis Intelligent Systems to Cadence Equity Partners.
AWS, based in Manchester, provides technologies and services enabling UK utilities to acquire and analyse critical network data for proactively managing their networks and meeting increasingly stringent regulatory requirements.
Orbis, based in the US, provides innovative non-invasive solutions for utilities that monitor flow parameters and assess the condition of pipes.
The transaction will enable California-headquartered Aquam to focus on, and accelerate, the growth of its innovative pipe rehabilitation technologies and services through its remaining divisions, Specialized Pipe Technologies and NuFlow Technologies.
CMS corporate partner, Jack Shepherd, said: “We are pleased to have assisted Aquam Corporation on the sale of its subsidiaries AWS and Orbis.
“To complete a transaction amidst these current extremely challenging times, and a highly complex one at that, is testament to our client’s and our team’s resilience and commitment to achieving Aquam’s strategic business goals.
“We wish them the very best for the future.”
Dan Squiller, Aquam’s chief executive, said: “After evaluating several very capable advisers, Aquam selected CMS based on their experience and the wide range of issues this highly complex international transaction would involve.
“At every stage in the process, CMS exhibited provident advice, were highly responsive, and collaborative with all parties. In short, CMS exceeded our expectations and played a pivotal role in this successful transaction.”
The CMS team advising Aquam included Jack Shepherd, Harriet Serpis and James Kay in the corporate team.