Deloitte Legal supports De Watergroep and Azulatis in the equity investment by TINC

Deloitte Legal is proud to have advised De Watergroep and Azulatis on the equity investment by listed infrastructure fund TINC.

Following this transaction, TINC acquired a 49% equity stake in Azulatis as a new co-shareholder alongside De Watergroep. The completion of the transaction took place on 27 June 2025 upon regulatory approval by the Belgian Competition Authority.

Azulatis is market leader in tailor-made water projects for industrial clients, offering an effective solution to the growing need for environmentally responsible water management for large water consumers by using innovative (waste) water installations. Today, Azulatis serves some 50 customers in various sectors including food, chemicals, agriculture, retail, logistics, healthcare and industrial production.

Deloitte Legal fielded a multidisciplinary team composed of Corporate M&A, EU & Competition and Public & Regulatory specialist lawyers under the overall lead of Marc Van tieghem. The Corporate M&A team was further composed of Hans Vansweevelt, Quang Boddou and Alicja Olszewska, with Richard Steppe, Glenn Deblander and Michiel Ponsaerts leading the efforts in the EU & Competition team, and Public & Regulatory support being provided by Wim Naudts and Louis Swennen. Deloitte Legal worked in close collaboration with Deloitte’s Financial Advisory team consisting of Kevin Defour and Charles Defauw.

More information on the transaction can be found in the TINC press release, Azulatis press release and De Tijd press release.