Under a new shareholding structure, EQT Infrastructure will own 42% of Kelda Holdings, alongside existing shareholders GIC of Singapore, and TCorp, the New South Wales (Australia) public sector investment fund, which will hold 42% and 16% of respectively. The change of ownership is expected to be completed by the end of June 2026.
EQT already has a strong presence in the UK, having invested more than 拢10bn of equity in UK-headquartered businesses across its Private Capital and Infrastructure strategies. Its investment model is built on multi-year ownership and operational improvement, in line with the strategy and plan for Yorkshire Water.
Kunal Koya, partner at EQT Infrastructure, said: 鈥淥ur strong track record as a long-term active owner of large infrastructure assets makes EQT a natural partner for Yorkshire Water. We believe that as a responsible private capital manager, EQT can play an important role in modernizing the UK鈥檚 water infrastructure, and the Company鈥檚 multi-year investment plan reflects that objective. Together with Yorkshire Water鈥檚 existing investors, we will support the sector鈥檚 reform agenda and deliver service improvements for customers across the region and transparency for all stakeholders.鈥�
Nicola Shaw, chief executive of Yorkshire Water and Kelda Holdings, said: 鈥淭his is a great step forward for Yorkshire Water. The EQT team will bring additional expertise to our board, and their backing is a strong vote of confidence in our plan to improve performance and the progress we have made so far. EQT has a long-term perspective and their team is committed to supporting the delivery of our 拢8.3bn investment programme. Their support, together with GIC and TCorp, will enable us to continue to execute our strategy, maintain focus on operational performance, and deliver the investment needed to improve outcomes for customers and the environment across Yorkshire.鈥�
The acquisition is conditional upon regulatory approvals.