MILAN, Italy - Asset management firm the Blackstone Group has invested into Italian water technology company, De Nora.
Funds managed by Blackstone Tactical Opportunities will be used for the transaction for an undisclosed amount.
De Nora was advised on the transaction by Lazard and Blackstone by Mediobanca and Deutsche Bank.
The Blackstone Group was also linked to the sale of GE’s water group earlier this year, before SUEZ was confirmed as the buyer.
De Nora operates two principal divisions: electrode technologies and water technologies.
It was in July 2015 when De Nora made headlines in the global water market with the acquisition of Severn Trent Services.
Andrea Valeri, senior managing director of Blackstone Tactical Opportunities, said: "Providing capital to a company with a longstanding family history and management continuity is a hallmark of Blackstone's investments in Italy and beyond, and we look forward to working with De Nora to build on its continued success."
Paolo Dellachà, CEO of De Nora, said: "We are confident that this partnership will act as a springboard for expansion into new markets. De Nora's planned launch of new innovative technologies will greatly benefit from Blackstone's established global network.”