KKR buys into United Envirotech's growth ambitions

United Envirotech raises $114 million from financial sponsor KKR as demand for clean water in China drives the company's need for capital.

KKR buys into United Envirotech's growth ambitions
Clean water is becoming an increasingly valuable commodity

Buyout firm KKR is investing $113.8 million in United Envirotech, a provider of engineering services to municipal and industrial waste-water treatment projects. United Envirotech also operates a portfolio of waste-water treatment plants across China. It has been listed on the Singapore Exchange SGX since 2004.

KKR has agreed to buy convertible bonds carrying a coupon of 2.5%, which will convert into equity shares at a conversion price of S$0.45 per share any time during the...

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