A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.
potable watertechnical
Potable water is water that is safe for people to drink and use for cooking, meaning it meets health and safety standards to avoid illness. For investors, access to potable water affects a company’s operating costs, regulatory compliance, asset value and community reputation—similar to how a reliable power supply keeps a factory running, clean drinking water is a basic necessity that can influence profitability, risk and long‑term viability.
wastewater treatmenttechnical
The process of cleaning used or contaminated water so it can be safely returned to the environment or reused, similar to a large-scale laundromat that removes dirt and germs from a city’s water. It matters to investors because treatment plants and technologies are subject to regulatory permits, long-term contracts, capital expenditure and operating costs, and potential revenue from services or reclaimed water; failures or upgrades can create material financial, legal and reputation risks or growth opportunities.
customary closing conditionsregulatory
"Customary closing conditions" are standard rules or checks that must be met before a business deal can be finalized, like making sure all paperwork is in order or that certain approvals are obtained. They matter because they help protect both parties, ensuring everything is in place and reducing the risk of surprises or problems after the deal is closed.
See more from StockTitan in Google Search and AI answers.Adds StockTitan as a preferred source · opens Google
SAN ANTONIO--(BUSINESS WIRE)--
WaterFleet, LLC (“WaterFleet”), a leading provider of mobile water and wastewater utility services and workforce relief solutions, today announced that a subsidiary of Xylem Inc. (NYSE: “XYL”) (“Xylem”), a leading global water technology company, has signed a definitive agreement to acquire WaterFleet from investment funds managed by EagleTree Capital and its co-investors for approximately $200 million.
WaterFleet, headquartered in San Antonio, Texas, provides mobile water and wastewater treatment solutions to remote, temporary and infrastructure-critical sites, including potable water production and storage, domestic wastewater treatment, water quality monitoring, and workforce support services that enable customers to operate safely and reliably in environments where permanent water infrastructure is limited or unavailable.
Senior Partner Robert Fogelson and Partner Nitin Singhal of EagleTree Capital said, “Working alongside the entire WaterFleet team, including President and CEO Kenneth Cockrill and co-founders Alan and Allison Pyle, has been a privilege. During our partnership, they have expanded the Company’s capabilities, strengthened its market leadership, and positioned the business for continued growth. We are confident that Xylem is the right partner for the Company’s future success.”
“Joining Xylem is an exciting new chapter for WaterFleet,” said Kenneth Cockrill. “Together, we will be able to expand and bring our service offerings to more customers while we continue to deliver the reliable, compliant solutions our customers depend on.”
Jones Day served as legal counsel to WaterFleet. Gibson Dunn served as legal counsel to Xylem.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close later this quarter.
About WaterFleet
WaterFleet is a leading provider of mobile water and wastewater utility services and workforce relief solutions. The company provides safe, reliable and compliant solutions for remote, temporary and infrastructure-critical sites, including potable water production and storage, wastewater treatment, water quality monitoring, and workforce support services. For more information, visit www.waterfleet.com.
About Xylem Inc.
Xylem (XYL) is a Fortune 500 global water solutions company that empowers customers and communities to build a more water-secure world. Its 22,000 employees delivered revenue of $9 billion in 2025, optimizing water and resource management with innovation and expertise. For more information, visit www.xylem.com.
About EagleTree Capital
EagleTree Capital is a leading New York-based middle-market private equity firm, with $4.4 billion of assets under management, that has completed over 45 private equity investments and more than 105 add-on transactions over the past 20+ years. EagleTree primarily invests in North America in the following sectors: business services, consumer, and specialty industrial. For more information, visit www.eagletree.com or find EagleTree on LinkedIn.
