DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
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Firms / B••• W•••• E••••• L••
B••• W•••• E••••• L••
B•••water is a specialist energy private equity firm partnering with top-class management teams to provide growth capital in the global energy supply chain.
Classification
- Class
- Buyout firmprobable, confidence 80%
- Basis
- own website statement
- Size band
- Middle marketdefined by: proxy: $2.08bn Private Equity Fund GAV on the Form ADV filed 2024-06-28
Classification history (2)
- Sep 15, 2026Buyout firm (probable, 80%, cls-pe-2)own website statement“B•••water is a specialist private equity firm that provides buy-out & growth capital as well as strategic support to companies that operate across the supply chain of global energy.”b•••••••••.com
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 5 of 5 distinct vehicles are sworn Private Equity Funds; 5 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- exempt reporting adviser
- Form ADV filings
- Jan 17, 2018 to Jun 28, 2024
- RAUM
- unknownregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 5
- PE fund GAV, latest filing
- $2.1Breported gross assets (Form ADV), not fund size
- All private fund GAV
- $2.1Bevery private fund type, latest filing
- 2024 PE fund GAV
- $2.1Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2024-06-28, latest gav Private Equity Fund $2.1B, latest counts Private Equity Fund 5, lifetime distinct Private Equity Fund 5
- Employees
- unknown
- Headquarters
- London, United Kingdom
- Office address
- 17 CONNAUGHT PLACE, London, W2 2ES
- Business phone
- 44 0 20 7290 5090
Stated criteria beside observed behaviour
33 observed deals
Stated by the firm
- Sectors
- energy, transportation logistics, industrials, technology, manufacturing
- Geography
- Global, Europe, Asia
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- from $2.5B
- Control
- not stated or not yet read
- Thesis
- We focus on both the energy and industrial verticals, creating a structural growth opportunity for investors
Observed from deals on record
- roles
- add on 3, unknown 30, platform 1
- period
- to 2024-09-25, from 2021-01-01, undated holdings 30, dated observations 7
- window
- last 2024-09-25, first 2024-06-12
- control
- control 3, unknown 31
- companies
- 33
- geography
- count 1, share 0.03, value LA
- investments
- 34
- seller kinds
- unknown 2
- transactions
- 3
- cadence by year
- 2024 add ons 3
- platform add on
- add ons 3, platforms 1, add ons per platform unknown
- sector known for
- 0
- disclosed value usd
- n 0
- sector distribution
- holding period years
- n 0
- repeat counterparties
- subsector distribution
33 companies on the graph (3 transactions); 1 platforms and 3 add-ons; observed 2021 to 2024
Funds
5 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| B••• W•••• E••••• F••• I•• L••• ADV: Private Equity Fund | buyout or unlabelled | unknown | $1.0B as of Jun 28, 2024 | no Form D | Mature | |
| B••• W•••• E••••• F••• I••• L••• ADV: Private Equity Fund | Feeder or parallel | unknown | $649M as of Jun 28, 2024 | no Form D | Mature | |
| B••• W•••• E••••• F••• I• L••• ADV: Private Equity Fund | buyout or unlabelled | unknown | $213M as of Jun 28, 2024 | no Form D | Mature | |
| B•• I• E••• T••• C•••••••• F•••• L••• ADV: Private Equity Fund | Co-investment vehicle | unknown | $120M as of Jun 28, 2024 | no Form D | Mature | |
| B•• I• E••• T••• C••••••••• L••• ADV: Private Equity Fund | Co-investment vehicle | unknown | $100M as of Jun 28, 2024 | no Form D | Mature |
Team
30 current, 1 former
Managing partner (2)
- J••••• M• J•••••••• · Executive Chairman & Founding Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- T•• S••••••• · Founding & Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Partner (6)
- G••••• S•••• · Owner · since Nov 1, 2011 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- J••••• M• J•••••••• · Partner · since May 1, 2011 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- M•••• S••••••••• · Managing Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M••••• S••••••••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- S•••• O••••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- T••••• J••••• S••••••• · Partner · since May 1, 2011 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Principal (1)
- J•• D•••• · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Vice president (1)
- N•••••• T••• · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Associate (3)
- F••••• A••••• · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- H•••• F•••• · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- O•••••• C••••• · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Operating partner (5)
- C•••••••• B••••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- I•• P••••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J•• N•••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- K•••• M•••••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- V•••• V•••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Investor relations (1)
- F••••• B•••• · Head of Investor Relations & Marketing · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (10)
- A••• M••••••• · Director – Finance · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- L••••• A•• P•••••• · Chief Financial Officer · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- L••••• A•• P•••••• · Chief Financial Officer And Chief Compliance Officer · since Apr 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- L••• F••• · Executive Assistant and Events Coordinator · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M•••• M•••••••• · Vice President – Finance · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- O••••• K•••••• · Associate - Finance · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R•••• M••••••••• · R••••••••• Investment Lead, Compliance & Finance Projects Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- S•••• B•••••• · Operations Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- S••••••• A••••• · IT Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Z•• W•••• · Executive Assistant and IR Coordinator · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Other (1)
- G•• S•••••• · All, Investment Team · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
1 former (kept with end dates)
- M••••• A••••• K••••••• · Chief Compliance Officer And Chief Financial Officer · Apr 1, 2017 to May 31, 2022 Inference
Portfolio
34 relationships, 1 platforms, 3 add-ons
Transactions
3 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Sep 25, 2024 | Add-on acquisition | G••• | Sponsor (derived) | b•••••••••.com |
| Sep 25, 2024 | Add-on acquisition | G••• | Sponsor (derived) | b•••••••••.com |
| Jun 12, 2024 | Add-on acquisition | A•• S••• | Sponsor (derived) | b•••••••••.com |
Placement agents, lenders, advisers and co-investors
2 relationships
Placement agents (2)
- H••• B••• P•• 2 shared · recurring · last Jan 1, 2012
- A••••• C•••••• G•••• L•• 2 shared · recurring · last Jan 1, 2012
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
25 most recent
- Aug 27, 2026August 27, 2026 E••• LNG sold to Sapphire Gas Solutions
- Jul 14, 2026July 14, 2026 IMSERV acquires arbnco to give customers end-to-end energy intelligence
- Jul 1, 2026July 1, 2026 Sale of S••••• to Valmet
- Mar 26, 2026March 26, 2026 IMSERV strengthens service and Scotland presence with SP Dataserve acquisition
- Dec 22, 2025December 22, 2025 B•••water Transforms British Manufacturer S••••• into Global Industrial Firm, Sells to Valmet for $480 Million
- Oct 15, 2025October 15, 2025 A••• I••••••••• – Sale Concluded
- Sep 3, 2025September 3, 2025 C•• E•••• Appoints Mauro Piasere as New Chief Executive Officer
- Jul 9, 2025July 9, 2025 GES Announces Sale of Rotterdam Terminal to Strategic Buyer
- Jul 4, 2025July 4, 2025 GES Announces Successful Divestment of Amsterdam Terminal After Nearly Ten Years of Strategic Ownership and Investment
- Apr 29, 2025April 29, 2025 FOX Innovation & T••••••••• (FOX) acquires SIRIO Solutions Engineering (SSE) S.p.A.
- Apr 8, 2025April 8, 2025 B•••water B•••ed IMServ Acquires Leading E••••• Tech Firm to Deliver ‘One Version of the Truth’ in Data
- Jan 6, 2025January 6, 2025 Varel E••••• Solutions Acquires Ace Well Technology AS
- Sep 25, 2024September 25, 2024 3t expands global footprint with acquisition of G•••, the Middle E•••’s largest energy training business
- Aug 6, 2024August 6, 2024 Fox Innovation & T••••••••• (Fox) Acquires Cotter Holdings Group To Expand Field Operation Capabilities Across The US
- Jul 29, 2024July 29, 2024 Jernbro Signs Acquisition of Veltec to Drive New Industrial Services Growth Across Scandinavia
- Jun 13, 2024June 13, 2024 3t Acquires A•• S•••! to Expand Safety-Critical E••••• Training in the US
- May 2, 2024May 2, 2024 B•••water completes sale of ROVOP after successful growth journey
- Feb 19, 2024February 19, 2024 G••••• E••••• S•••••• •••• completes Sale of its Hamriyah Terminal, UAE
- Feb 1, 2024February 1, 2024 B•••water Completes Sale of Global Engineering Firm K••• to Nesma & Partners
- Aug 1, 2023August 1, 2023 Nesma & Partners Contracting Company Ltd. Announces The Acquisition of B•••water Portfolio Company K•••
- Jul 31, 2023July 31, 2023 IMServ Acquires Power Data Associates And Enters Unmetered E••••• Data Collection Market
- Jul 13, 2023July 13, 2023 B•••water Sells Techouse to Strategic Buyer Group in Norway
- Feb 17, 2023February 17, 2023 Leading E••••• Data Collector IMServ Appoints Raj Bhogaita As Chief Financial Officer
- Sep 15, 2021September 15, 2021 IMServ Acquired By B•••water As It Eyes ‘Huge Growth Potential’ Of E••••• Transition
- Jan 17, 2018B••• W•••• E••••• L•• first filed Form ADV in the extract (ERA)