French infrastructure investor InfraVia has done its first deal in the French industrial water sector by acquiring a developer and owner of ground water supply and wastewater treatment facilities, it announced in a statement.
The manager of a €200 million infrastructure fund has bought FRA Solutions Industrielles des Eaux I and FRA Solutions Industrielles des Eaux II, jointly known as FRASIE, from GE Energy Financial Services and Idex Groupe for an undisclosed amount. The deal was closed on 24 December, InfraVia said.
“We are attracted to the long-term, recurring nature of FRASIE’s contracted cash flows with a diverse portfolio of industrial customers in France,” Vincent Levita, the chief executive of OFI InfraVia, the asset manager for the fund, commented. Under the agreement, Idex will continue to provide operational and maintenance services to FRASIE via a long-term contract, Levita added.
InfraVia launched its infrastructure fund in 2008 and positions itself as a long-term investor in infrastructure, targeting investments across transportation, utilities, energy, telecoms and social infrastructure. Its geographical remit is the 17 countries comprising the Euro zone.