Acquisition expands Gradiant’s portfolio of industrial water technologies and creates springboard for growth in EMEA.
The acquisition of H+E Group underscores Gradiant’s commitment to delivering leading-edge solutions for the semiconductor sector and represents the company’s first footprint in Europe.
Gradiant Release, Oct. 2, 2023, BOSTON
Gradiant, a global solutions provider for advanced water and wastewater treatment, today announced its acquisition of H+E Group (Hager+Elsässer), an established European water solutions provider with over 100 years of experience in providing end-to-end solutions to advanced manufacturing. This acquisition underscores Gradiant’s commitment to delivering leading-edge solutions for the semiconductor sector and represents the company’s first footprint in Europe.
By combining H+E Group’s domain expertise in semiconductor and industrial water with Gradiant’s broad suite of end-to-end water treatment solutions, Gradiant is in a prime position to deliver innovative and tailored solutions to address the unique challenges faced by semiconductor manufacturers. H+E Group’s long history and extensive 30,000 reference installations reflect its track record of successfully delivering high-quality water solutions. This acquisition allows Gradiant to leverage these achievements and further establish itself as a leader in water solutions for the global semiconductor and industrial water market.
“We are thrilled to welcome H+E Group into the Gradiant family. This acquisition aligns with our strategic vision of becoming a comprehensive solutions provider for the semiconductor industry,” said Prakash Govindan, COO of Gradiant. “H+E Group brings to Gradiant deep experience in ultrapure water and wastewater treatment for the semiconductor and advanced manufacturing sector and establishes a firm foundation in the EMEA region. This synergistic collaboration doesn’t just combine our strengths, it accelerates our ability to innovate and adeptly navigate the ever-changing needs of the global industrial water market.”
“This is the right next step for H+E Group’s fast-growing industrial wastewater and ultrapure water business to be acquired by Gradiant,” said Jennifer L. Wick, Co-Founder of Sustainable Growth Fund (SGF) I and SGF II and Chairman of the Board of Aquarion AG and Geschäftsführer of H+E GmbH. “The acquisition enables the company to continue to grow at a rapid pace in many geographies including Asia, Middle East, and the United States, fueled by Gradiant’s global reach and differentiated technology portfolio.”
The announcement is part of a larger transaction where SGF I and II has sold a majority stake in Aquarion, a Swiss-based industrial water and wastewater treatment company that provides end-to-end solutions to the industrial sector, including semiconductor, energy, food & beverage, and pharmaceuticals.
Gradiant is a global solutions provider for advanced water and wastewater treatment. With a full suite of differentiated and proprietary end-to-end solutions, powered by the top minds in water, the company serves its clients’ mission-critical operations in the world’s essential industries, including semiconductors, pharmaceuticals, food & beverage, lithium and critical minerals, and renewable energy. Gradiant’s innovative solutions reduce water used and wastewater discharged, reclaim valuable resources, and renew wastewater into freshwater. The Boston-headquartered company was founded at MIT and has over 900 employees worldwide. Learn more at gradiant.com.
About H+E Group
Based in Stuttgart, Germany for more than 100 years, H+E Group is a global leader in industrial water treatment, wastewater treatment, and water reclamation. H+E Group has delivered 30,000 projects in industrial water and is supported by a global network of offices across Europe and Asia. Companies across diverse industries worldwide trust H+E for their critical water solutions. Learn more at he-water.group.
SGF is an SCSp, SICAV-SIF private equity fund based in Luxembourg with a mandate to invest in mid-cap sustainable companies. SGF II, an Article 9 fund, is the successor fund and has already received several Impact Fund of the Year awards. Learn more at www.sustainablemanagement.com.
About WAVE Equity Partners
WAVE Equity Partners (WAVE) is an independent sustainability-focused American investment firm. We partner with early-growth companies whose proven clean technologies drive meaningful bottom-line impact and environmental benefits for large industrial manufacturers. Our industry knowledge and dedication to true partnership allow us to work effectively with leaders whose innovative solutions are commercially accepted, deliver immediate impact and are poised to scale. WAVE is currently investing out of its third institutional fund and has approximately $440 million under management (AUM) as of June 30, 2023.