Apollo-managed funds have acquired Maverick Water Group, a Houston-based developer and operator of alternative non-potable water systems, from Crosstimbers Capital Group, Apollo announced on 3 August.
Why Apollo Global Management (infrastructure funds) is buying Maverick Water Group
Jon Levinson of Apollo's infrastructure group said Maverick has built a differentiated platform delivering long-term water solutions in some of the country's fastest-growing markets. With Apollo's backing, Maverick plans to scale its platform and near-term pipeline.
Deal terms and financing
Financial terms were not disclosed. Maverick's management team retains a minority stake.
Market context
Founded in 2018, Maverick develops water system assets with real estate and industrial customers to provide reliable non-potable supply and conserve potable water in Texas. Apollo funds have deployed more than $130bn in infrastructure and related investments over five years.
