UEL said KKR’s investment will allow UEL to expand its business and also to get opportunities in China’s water industry.
UEL, using advanced membrane technology in waste water treatment and recycling, is expected to provide a viable solution to water shortage and pollution problems, supporting sustainable and environmentally-friendly development of the economy in China.
UEL chairman and CEO Lin Yucheng said KKR’s investment will allow the company to achieve further growth at a crucial time in the development of the China waste water treatment industry.
"In addition to bringing in capital to support our growth, KKR’s global network, operational capabilities and knowledge will add significant value to our future development," Yucheng said.
The convertible bond investment is expected to conclude before the end of this year and is subject to customary conditions, including approval from UEL’s shareholders.
UEL provides engineering services using membrane technology to municipal and industrial waste water treatment projects, and also operates a portfolio of waste water treatment plants across China.
UEL undertakes both turnkey and water investment projects, as well as provides treatment plant operation and maintenance services.
