Nuveen to acquire a majority stake in TurnClear from Crestview-backed Upwell Water.

Nuveen, a global asset manager, agreed to acquire a majority stake in TurnClear, the decentralized water and wastewater treatment-as-a-service business of Crestview-backed Upwell Water, a technology-enabled water resource and infrastructure company. Financial terms were not disclosed. “We are excited to partner with Hu and Upwell Water to serve the growing commercial and industrial opportunity. Increased industrial activity and onshoring, coupled with rising compliance requirements, complex treatment needs, and tight labor markets are all supportive of a turnkey treatment solution that lets customers focus on their core activities,” Chris Steinbaugh, Nuveen Senior Director.