Yorkshire Water Finance Plc - New investor signals confidence in Yorkshire Water

Yorkshire Water, a leading water company serving over 5 million customers daily, is pleased to announce that EQT has agreed to acquire a 42% stake in Kelda Holdings Limited, the parent company of Yorkshire Water, in a move that signals confidence in the water company’s plans for the future.  

EQT is a purpose-driven global investor with deep experience in managing long-term strategic assets and a strong track record of managing critical infrastructure. With a Nordic heritage and a global mindset, EQT has a strong presence in the UK having invested over £10 billion 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, directly in line with the strategy and plan for Yorkshire Water.

EQT is committed to investing further equity to strengthen the Company’s balance sheet, including contributing to the approximate £600m intercompany loan repayment that is due before March 2027. EQT is also fully supportive of the plan to deliver the Company’s largest ever environmental investment program, with a total of £8.3 billion dedicated to improving services and upgrading infrastructure throughout the region between 2025 and 2030. This investment program will continue to drive a step change in environmental protection, infrastructure resilience and service quality across the region, further supported by the hiring of over 1,000 new employees locally.

Following the completion of the transaction and a simplification of the capital structure, existing shareholders GIC, a leading global investor, and TCorp, the investment and financial management partner of the New South Wales (NSW) public sector in Australia will hold 42% and 16% of the company respectively. The change of ownership is expected to be completed by the end of June 2026.

The acquisition is conditional upon approvals, including anti-trust.

Nicola Shaw, Chief Executive of Yorkshire Water and Kelda Holdings Limited commented: “This 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 £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.”

Kunal Koya, Partner at EQT Infrastructure said: “Our 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’s water infrastructure, and the Company’s multi-year investment plan reflects that objective. Together with Yorkshire Water’s existing investors, we will support the sector’s reform agenda and deliver service improvements for customers across the region and transparency for all stakeholders.”

 

Notes to editors

For media enquiries, please contact:

Emily Brady, Communications Manager

mediateam@yorkshirewater.co.uk

For investor enquiries, please contact:

Daniel Clarke, Head of Corporate Finance

debtir@keldagroup.com

 

About Yorkshire Water

We’re Yorkshire Water. The people trusted to take care of Yorkshire’s most valuable natural resource. On the surface, we manage and look after the region’s water, coast and countryside. But our work means much more than just providing essential services to over 5 million customers in the region. We’re an integral part of Yorkshire life and millions of people who live and work here rely upon us, every single day.

Our vision is to create a thriving Yorkshire, which is right for customers and right for the environment. Over the next five years, from 2025-2030, we are investing £8.3 billion to improve performance and ensure we deliver for our customers and the environment. It is our largest ever environmental investment, which will provide benefits for decades to come and help Yorkshire’s economy by supporting up to 10,000 jobs. Our plan supports the changes we need to provide safe, clean, great tasting water; deliver value for money to our customers; build and operate efficient infrastructure; reduce pollution; improve river quality and reduce carbon emissions.

More info: www.yorkshirewater.com  

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About EQT

EQT is a purpose-driven global investment organization with EUR 270 billion in total assets under management (EUR 141 billion in fee-generating assets under management) as of 31 December 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info:   www.eqtgroup.com
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