Water tech firm Xylem Inc. has agreed to acquire WaterFleet, a provider of mobile water and wastewater utility services, for approximately $200 million. WaterFleet, backed by EagleTree Capital, is headquartered in San Antonio, Texas, and serves remote, temporary, and infrastructure-critical sites.

Robert Fogelson and Nitin Singhal of Eagle Tree Capital expressed their pride in WaterFleet's growth and market leadership during their partnership. They are confident that Xylem is the ideal partner for WaterFleet's future success. Jones Day provided legal counsel to WaterFleet, while Gibson Dunn advised Xylem.

The transaction is anticipated to conclude by the end of the current quarter. WaterFleet's services are crucial for locations requiring temporary water and wastewater solutions, including during infrastructure projects or emergencies.