Belgian infrastructure investor TINC has completed its previously announced investment in Azulatis, a specialist in industrial water management.
The deal, first disclosed in spring 2024, received all required approvals, including clearance from the Belgian Competition Authority.
TINC now holds a 49 percent stake in Azulatis alongside existing shareholder De Watergroep. The investment amounts to approximately 11 million euros, funded from TINC’s available cash, and is expected to contribute immediately to the company’s financial results.
Azulatis is the leading provider in Flanders of custom-designed water projects based on a Water-as-a-Service (WaaS) model. It offers design, construction, financing, and maintenance services to industrial clients, helping them manage and recycle water efficiently – especially in sectors such as food and beverages, chemicals, agriculture, healthcare, and logistics.
The company originated from the spin-off of the industrial division of De Watergroep and currently serves around 50 clients. TINC's investment is expected to strengthen Azulatis’ financial position, enabling expansion and innovation.
“Water is becoming an increasingly precious resource due to population growth, pollution, and climate change”, says Manu Vandenbulcke, CEO of TINC. “Azulatis’ circular model of reusing wastewater reflects the future of water management. We are proud to support them in a growing and consolidating market.”
