Houlihan Lokey Advises Grundfos Holding
Houlihan Lokey is pleased to announce that Grundfos Holding A/S (Grundfos), a Denmark-based global leader in advanced water solutions, has signed an agreement to acquire Newterra Corp., Inc., and Newterra Ltd. (Newterra), a Pittsburgh-based water and wastewater treatment solutions company from Frontenac, a Chicago-based private equity firm. The transaction was announced on June 24, 2025.
The signing follows a series of strategic acquisitions made by Grundfos in recent years and will further strengthen the company’s growing portfolio within water treatment. It also underscores Grundfos’ strategic ambition to expand its presence in the important U.S. and Canadian markets. The company aims to double its North American business by 2030 and recently announced that it will expand its production footprint in the U.S. by building a new plant in Brookshire, Texas, where the company has its U.S. headquarters. Newterra will become part of the Water Treatment (Solutions) business, which is part of Grundfos’ Industry Division.
With Newterra, Grundfos’ Water Treatment business will have more than 1,500 employees across Europe and North America and revenues exceeding $350 million. The acquisition is subject to closing conditions, including regulatory approvals. Closing is expected in the second half of this year. Until then, Newterra and Grundfos will continue to operate as separate entities.
Grundfos, with more than 20,000 employees globally, is a pioneer in providing solutions to address the world’s water and climate challenges, striving to improve the quality of life for people. As a leading global pump and water solutions company, Grundfos promises to respect, protect, and advance the flow of water by providing energy and water-efficient solutions and systems for a wide range of applications for water utilities, industries, and buildings. Water Treatment (Solutions) is part of Grundfos’ Industry Division and focuses on offering technologies and systems for treating water across various applications. The Water Treatment business supports circular water practices and improved water efficiency in industrial settings. It has five production sites in the U.S. and Europe.
Newterra designs, engineers, manufactures, and services environmental, water, and wastewater treatment solutions that assure great performance, superb reliability, and the highest value in global markets. The company offers a broad portfolio of reliable, trouble-free technologies and outsourcing support for municipal and industrial customers across diverse applications, including drinking water, industrial process water, wastewater, stormwater, and remediation. It has four production sites in the U.S. and Canada.
Houlihan Lokey served as the exclusive buyside financial advisor to Grundfos. The firm assisted Grundfos in structuring and negotiating the transaction. This deal is exemplary of Houlihan Lokey’s market-leading advisory track record in the water technology sector and its cross-border M&A capabilities.
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