UPDATE -- Azuria Water Solutions and Inframark Complete Combination
Creates a leading, end-to-end provider of tech-enabled solutions that helps municipal water and wastewater utilities lower costs, improve compliance, and optimize capital allocation
ST. LOUIS, April 23, 2026 (GLOBE NEWSWIRE) -- Azuria Water Solutions, Inc. and Inframark, LLC (together, “Azuria”) today announced the completion of their previously announced strategic combination. Inframark will continue operating as a flagship brand under the Azuria parent name. The combined platform will generate more than $2.5 billion of revenue and offer a comprehensive set of technology-enabled solutions across the water ecosystem to help municipalities lower costs, improve compliance, and optimize capital allocation.
Each business will leverage its independent specialization – Azuria in water and wastewater conveyance system maintenance and rehabilitation and Inframark in treatment plant operations – to provide more fulsome solutions to clients. Together, Azuria will more holistically assess and address municipalities’ most costly water challenges, including inflow and infiltration (“I&I”) and non-revenue water, which cost U.S. cities more than $100 billion annually, according to the American Society of Civil Engineers. The business currently estimates it rehabilitates more than 1,000 linear miles of water and wastewater pipeline annually and treats and recycles more than 13 billion gallons of water for its customers.
“We believe this simple, powerful approach is an industry first,” said Rob Tullman, President and CEO, Azuria. “Utilities have historically managed pipe rehabilitation, system operations, and treatment facilities in separate silos. We have assembled the people, technologies, and capabilities to deliver comprehensive, integrated infrastructure and asset management in one place, helping municipalities extend their assets’ useful lives and avoid the massive expense of adding treatment capacity.”
“Like most utilities, we are dealing with I&I that pushes our systems beyond what they were designed to handle,” said Kelsey Henderson, Assistant Director – Utilities Department, City of Augusta, Georgia. “Azuria is helping us see the full picture so we can focus on fixing root issues instead of chasing problems. It is taking our industry from the Flintstones to the Jetsons.”
A core tenet of Azuria’s strategy is investing in training and providing career paths for employees. The company is powered by more than 7,000 highly skilled employees whose client-first focus drives the company’s service quality. Azuria’s investments in technology have also helped unlock its differentiated solutions. The company holds more than 100 patents across a proprietary suite of robotic, artificial intelligence, and mechanical technologies that enhance field operations, safety, and efficiency.
“Our goal is to help transform the way municipalities maintain their critical water and wastewater systems. By leveraging data and our team’s deep expertise, we can help clients make decisions by proactively partnering and providing recurring services under long-term contracts to manage their assets and drive higher quality outcomes,” Tullman continued.
Azuria will continue to be owned by funds managed by New Mountain Capital, L.L.C. (“New Mountain”), including a single-asset continuation vehicle (“CV”) and New Mountain’s latest flagship private equity fund, New Mountain Partners VII. With a total enterprise value of $5.5 billion at closing, the transaction represents the largest infrastructure services-focused CV raised to date. As part of the recapitalization, Azuria will have access to substantial additional unfunded capital commitments to support the company’s next phase of growth. The CV fundraise was co-led by HarbourVest Partners, LLC and another blue-chip institutional investor, with a broad group of premier financial investors also participating.
“Infrastructure services have been a key focus area for New Mountain for more than a decade, and Azuria and Inframark have both been strong performers under our ownership thus far,” said Joe Delgado and Lars Johansson, Managing Directors at New Mountain. “These companies embody our approach to business building, which has included commercial strategy revitalization, talent and career path development, AI-enabled technology investments, and an M&A strategy based upon being the ‘acquiror of choice’. We believe there is meaningful value creation ahead for Azuria as the company executes on our combined vision, and we are excited to continue partnering with Rob and his team.”
About Azuria Water Solutions
Azuria is a leading provider of technology-enabled solutions for the water industry. Since 1971, the company has remained at the forefront of sustainable, cost-effective products and technologies to address aging water pipeline infrastructure. In addition, the company delivers end-to-end solutions across treatment facility operations, engineering services, and digital solutions that address costly water infrastructure challenges to thousands of customers in North America. Azuria delivers more than 1,200 products and services through streamlined procurement channels that save cities time and money. Learn more at Azuria.com.
Media Contacts
Azuria Water Solutions
Beth Kerley, Vice President, Communications
bkerley@azuria.com
New Mountain Capital
Dana Gorman
H/Advisors Abernathy
dana.gorman@h-advisors.global
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
