Veolia Acquires Full Control of Water Technologies and Solutions from CDPQ

Published on May 7, 2025

Veolia has agreed to acquire CDPQ’s 30% stake in Water Technologies and Solutions (WTS), gaining full ownership of the business. The move aims to enhance value creation, streamline operations, and achieve additional cost synergies of around €90 million by 2027.

The acquisition aligns with Veolia’s GreenUp strategic plan, strengthening its position in water technologies and the U.S. market, both key growth drivers. Full control of WTS will allow Veolia to improve operational performance, accelerate innovation, and capitalize on rising demand for water treatment solutions driven by water scarcity, climate adaptation, and industrial needs.

The deal is valued at $1.75 billion (~€1.5 billion), representing approximately 11 times the estimated 2025 post-synergy EBITDA. Veolia expects the transaction to be accretive from 2026 onward while maintaining financial flexibility.

Completion is expected by the end of June 2025. Veolia reaffirms its 2025 and GreenUp targets, projecting at least 10% average annual EBITDA growth for its water technologies segment through 2027.

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