Bernhard Capital Partners Management, a service- and infrastructure-focused private equity management firm, has acquired Ascension Wastewater Treatment (AWT), the largest private sewer utility operator in Louisiana.
This represents Bernhard’s first investment for its BCP Infrastructure Fund, which held a first close in March close to its $750 million fundraising target. The deal also marks Bernhard’s entrance into the regulated utility sector, according to Business Report.
Bernhard said the acquisition will help bring improved sewer infrastructure and additional resiliency measures to AWT’s customer base of nearly 17,000 residents while expanding services to other communities.
“It’s imperative, now more than ever, to optimize utilities for delivering services as efficiently as possible without sacrificing quality,” said Jeff Jenkins, partner at Bernhard Capital. “With this review and acquisition now complete, we will work to expand AWT’s
