Credit Mutuel Equity, a private equity arm of Groupe Crédit Mutuel-CIC, agreed to acquire a majority stake in Claire Group, a company controlling and managing water infrastructure, from Gimv, a private equity firm. Financial terms were not disclosed. “We are all now conscious of the fact that water is a rare and precious resource whose management is a crucial, strategic issue worldwide. And yet, in France alone, which has underinvested in drinking water infrastructure (40% of the total infrastructure is over 50 years old), the rate of leakage stands at over 20% of the water taken in, and if we do nothing, that problem will only get worse. While the general population is becoming concerned about this issue and national and local government authorities are tackling it, the amount of investment required is enormous and the way we manage our infrastructure must evolve. Our company hopes to contribute to these efforts and continue growing and providing reliable, innovative solutions to achieve that. For that reason, we are acquiring the means to take on that challenge by obtaining additional financial resources to support our strategy, with the backing of a new leading shareholder, Crédit Mutuel Equity,” Damien Verhée, Claire Group CEO.