New investors for Azulatis: TINC and Farys
TINC, the infrastructure investor listed on Euronext Brussels, is taking a stake in Azulatis. Azulatis has been an independent subsidiary of The Water Group since January 1, 2023, and specializes in industrial water management. In addition, public water company Farys also joins as a third shareholder, contributing its industrial water business.
Azulatis is the market leader in Flanders for the implementation (design, construction, financing and maintenance) of customized water projects under the form of a Water-as-a-Service (WaaS) model. Companies that have high water consumption often do not see water management as their primary task. They therefore turn to water specialists to unburden them and optimize their water management, such as through wastewater reuse. Meanwhile, Azulatis serves some 50 clients in various sectors such as food, chemicals, agriculture, retail and logistics, healthcare and industrial production.
Azulatis springs from the corporatization of the industrial arm of The Water Group. Prior to the participation by TINC, fellow water company Farys also contributes its industrial water activities to Azulatis and joins the capital on an equal footing.
TINC’s investment will strengthen Azulatis’ financial strength, allowing it to expand its operations and accelerate its capacity for innovation. TINC invests approximately €8 million and acquires a 33.33% stake in Azulatis. The investment is financed from available cash resources and will contribute immediately to TINC’s earnings. The implementation of the transaction is subject to the approval of the Competition Authorities.
TINC is a listed investment company that seeks to create sustainable value by investing in the infrastructure for the world of tomorrow. TINC participates in companies active in realizing and operating infrastructure and holds a diversified portfolio of investments in focus areas such as public infrastructure, energy infrastructure, digital infrastructure and selective real estate in Belgium, France, Ireland and the Netherlands.
“With this participation, TINC is betting on the future of water management, a sector that is evolving rapidly as water becomes more and more of a precious commodity due to population growth, environmental pollution and climate change. Innovation in this sector is therefore crucial. The circular model in which wastewater is reused is only one of many possibilities. TINC is therefore pleased to support this initiative.”
– Manu Vandenbulcke, CEO TINC
“The water economy is in full development, and Azulatis is well placed to play a pioneering role in the transition to a climate-proof water system for Flanders, contributing to the Blue Deal in which water management is looked at radically differently. Thanks to the partnership with TINC, Azulatis gains additional financial strength and expertise to respond flexibly and efficiently to the demands of its industrial clients, and Azulatis can develop new techniques for circular industrial water.
– Hans Goossens, CEO The Water Group
“This collaboration opens a huge potential to quickly, purposefully and effectively meet the challenges and opportunities in terms of sustainable water management in industrial activities. Each time situation-specific, creative and innovative and both economically and ecologically sound for all stakeholders.”
– Marleen Porto-Carrero, CEO Farys