Apax Partners Acquires American Water's Homeowner Services Group
October 29, 2021
Funds advised by Apax Partners agreed to acquire American Water's Homeowner Services Group in a transaction valued at about $1.275 billion. The deal delivers $480 million in cash to American Water, a $720 million secured seller's note and up to $75 million of contingent consideration, allowing American Water to redeploy proceeds into its regulated water and wastewater business.
- Buyers
- Funds advised by Apax Partners LLP
- Targets
- Homeowner Services Group (American Water) — includes brands American Water Resources and Pivotal Home Solutions
- Sellers
- American Water Works Company, Inc.
- Industry
- Insurance
- Location
- Illinois, United States
- Transaction Type
- Divestiture
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