Hambro Perks Environmental Technology (HPET) today announced the sale of i2O, the smart water network company, to Mueller Water Products (NYSE: MWA) for $20 million. Further financial details were not disclosed.
Founded in 2005, and headquartered in Southampton, UK, with operations in Malaysia and Colombia, i2O Water delivers intelligent water networks to more than 100 water companies in over 45 countries around the world. Its technology significantly reduces water loss by enabling clients to analyse and control water networks to reduce leakage, lower energy consumption and improve supply. i2O first received investment from HPET-affiliated funds in 2014 that have overseen the business’s substantial growth and expansion since then. The acquisition by Mueller will enable i2O to expand into North America markets.,
Sir John Rose, Chairman of HPET said: “We are proud of the journey of i2O in recent years, which has seen strong growth in a number of markets, and enabled millions of litres of water to be saved from wastage across managed networks. We wish Mueller and the i2O management team a bright future as they seek to expand further.”
About Hambro Perks Environmental Technology
Hambro Perks Environmental Technology is a fund focussed on investing in emerging environmental technologies, and currently includes a portfolio of fast-growth technology companies, working to solve some of the most important environmental challenges faced by the world today.
Environmental technology is a sector which is set to experience enormous growth on every continent, as we all look to reduce our impact on the planet and move towards solving important environmental challenges. Hambro Perks is partnering with real thought leaders within the space in order to focus on technology companies that have a positive impact on the world we live in.
About Hambro Perks:
Hambro Perks is a London-headquartered international investment firm focussed on private technology investing. We partner with founders and entrepreneurs to support growth businesses at all stages of investment cycle.
Hambro Perks has specialised and dedicated investment teams, working across a number of funds. In addition to their flagship Venture, EIS and co-investment funds, Hambro Perks offers a number of specialist differentiated investment strategies, including Hambro Perks Environmental Technology, Special Situations, and Access, which invests in venture secondaries.
i2O currently supports more than 100 water utilities in over 45 countries. i20 provides a range of market-leading intelligent water network solutions including Advanced Pressure Management, Network Analytics, Event Management, Data Logging and the iNet software suite.
About Mueller Water Products, Inc.
Mueller Water Products, Inc. (NYSE: MWA) is a leading manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. Our broad product and service portfolio includes engineered valves, fire hydrants, pipe connection and repair products, metering products, leak detection and pipe condition assessment. We help municipalities increase operational efficiencies, improve customer service and prioritize capital spending, demonstrating why Mueller Water Products is Where Intelligence Meets Infrastructure®. Visit us at www.muellerwaterproducts.com