Conyers advised Morgan Stanley Infrastructure Partners (MSIP) on its US$500 million acquisition, through funds managed by MSIP, of Seven Seas Water, a leader in Water-as-a-Service solutions (WaaS®). Seven Seas Water is a former operating segment of AquaVenture Holdings Limited, which was acquired by Culligan in a take-private transaction effective March 30, 2020.
Seven Seas Water operates desalination and other water treatment facilities across the Caribbean and in Peru, offering long-term water solutions to governmental, municipal, industrial and hospitality customers. Through its AUC Group division, the business also designs and installs wastewater treatment plants in the United States.
Morgan Stanley Infrastructure Partners is a leading global infrastructure investment platform. The team has a proven and disciplined approach to investing in infrastructure assets globally. MSIP recently announced US$5.5 billion raised for North Haven Infrastructure Partners III, its third global infrastructure fund.
Counsel Audrey Robertson and Associate Marcus Hallan (both of whom advised on the AquaVenture take-private) of Conyers’s BVI office advised on the matter, working alongside White & Case and Goodwin Proctor.