Three Veolia water units serving parts of northwest London and the Home counties that were acquired last June have been renamed Affinity Water.
Veolia Water Central, Veolia Water Southeast and Veolia Water East, former U.K. units of the French water utility Veolia Environnement SA (VIE), were brought together under one name effective this month after being purchased for 1.2 billion pounds ($1.9 billion), Affinity Water said.
The buyer of Paris-based Veolia’s U.K. unit was Rift Acquisitions Ltd., formed by Infracapital Partners, an infrastructure investment fund managed by M&G, the European investment arm of Prudential Plc (PRU), and Morgan Stanley (MS) Infrastructure Partners. Veolia, which has been disposing of assets to reduce debt, will keep 10 percent of the business for at least five years under the deal.
Affinity Water provides water supplies to about 3.3 million people in parts of Bedfordshire, Berkshire, Buckinghamshire, Essex, Hertfordshire, Surrey, the London boroughs of Harrow and Hillingdon; parts of the London boroughs of Barnet, Brent, Ealing and Enfield; the Tendring peninsular in Essex; as well as the Folkestone and Dover areas of Kent.
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