Berkshire Partners Takes Majority Stake in United Flow Technologies, Drives Water Sector Growth

The acquisition of United Flow Technologies by Berkshire Partners represents an important private equity-to-private equity transaction within the water infrastructure and industrial distribution sectors. This flip—H.I.G. Capital investing in UFT since 2021 and now transitioning control to Berkshire while keeping a minority position—suggests a maturation of the platform with demonstrated growth under H.I.G.’s stewardship. However, the lack of disclosed financials limits visibility into valuation and return multiples.

Operationally, UFT has aggressively pursued geographic expansion and product breadth through a series of strategic add-on acquisitions, including but not limited to Moss-Kelley, Quality Controls, GP Jager, BissNuss, Heyward, Kodru-Mooney, and Iowa Pump Works. [5][4][6] These moves have likely improved both end-market reach and technical representation capabilities, enhancing UFT’s ability to compete with larger incumbents in technical distribution. For Berkshire, this provides a platform already scaled and entering a next phase of maturation.

Strategically, the deal indicates several implications: firstly, continued demand among financial sponsors for assets serving critical infrastructure and clean water segments; secondly, the appeal of technical distribution in regulated markets; and thirdly, an emphasis on ESG-adjacent sectors. Patients investors like Berkshire typically bring operational support, refined processes, and discipline around margin expansion and integration. The retention of H.I.G. as minority owner may signal alignment and confidence in further value creation.

Open questions remain: What multiples Berkshire applied—especially EV/EBITDA or revenue—and how they compare to precedent deals in water/wastewater technical distribution. How quickly UFT can continue to digest recent acquisitions and convert them into profitable growth; and whether there is capacity to accelerate acquisitions further under new sponsorship. Also, whether the tightening macroeconomic environment—interest rates, inflation, supply chain disruptions—might impact input cost or capital availability for both UFT and its end customers (municipalities and industrial players).