The team led by Linda Harroch, Partner and Head of the Private Equity department at BSP, and composed of Grégoire Colson, Associate, acted as Luxembourg counsel assisting Advent International in the sale of Culligan to BDT Capital.
Culligan International (“Culligan”) is the innovative brand in consumer-focused and sustainable water solutions and services which has been acquired by BDT Capital partners, LLC (“BDT”) a merchant bank, through its affiliated funds. Several strategic family business owners and investors within BDT’s global network also co-invested alongside BDT in the transaction. As part of the agreement, Advent will also reinvest in the business to acquire a minority stake.
The transaction, which was first announced in May 2021, has been finalised after the required regulatory approvals and customary closing conditions have been completed.