Iguá Saneamento Funding, Investors & Competitors

Iguá Saneamento has raised $500M across 2 funding rounds, most recently a $393M undisclosed-stage round in September 2024.

Last Iguá Saneamento funding round

$393M

Undisclosed stage · Sep 2024

Cumulative funding Iguá Saneamento raised

$500M

across 2 funding rounds

Key investors in Iguá Saneamento

  • CPP Investments
  • Alberta Investment Management
  • IG4 Capital

Iguá Saneamento Overview

About Iguá Saneamento

Iguá Saneamento is a Brazilian water and sanitation company that provides potable water distribution and sewage collection and treatment services. It operates concessions and public-private partnerships across multiple Brazilian states, including a large concession in Rio de Janeiro, serving several million customers. Following its 2024 expansion into the state of Sergipe, the company's footprint grew to seven states.


Founded

2006

HQ

BrazilBrazil

Status

Privately held

Customer focus

B2C & B2G

Revenue model

Usage-based

Iguá Saneamento Funding History

Iguá Saneamento has raised a total of $500M across 2 funding rounds.

Iguá Saneamento's first fundraising round was a $107M undisclosed-stage round in July 2018. The most recent completed round was a $393M undisclosed-stage round in September 2024.

Iguá Saneamento funding rounds

Iguá Saneamento funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2024Undisclosed stageCPP Investments (lead)$393MIguá Saneamento is a Brazilian water and sanitation company providing potable water distribution and sewage collection and treatment services, operating in multiple states and serving approximately 5 million customers following its recent expansion. On September 10, 2024, CPP Investments, its majority shareholder holding 61.4% prior to the deal, announced a follow-on equity commitment of up to R$2.2 billion (approximately $392-400 million USD or C$532 million) to fund the acquisition of a major new concession in the state of Sergipe and support capital expenditures. The Sergipe concession, won on September 4, 2024, covers 74 municipalities and represents Iguá's second-largest operation, expanding its footprint to seven Brazilian states including a large concession in Rio de Janeiro. This investment follows CPP Investments' initial stake in 2021 and comes after Iguá bid BRL4.5 billion for the Sergipe concession fee—122% above the minimum—and pledged BRL6.3 billion in total investments over the concession period, with BRL4.7 billion in the first 10 years. CEO Roberto Barbuti noted that financing details, including shareholder contributions and bank bridge loans, were already arranged. CPP views Iguá as a key platform for Brazilian water and sanitation opportunities, citing sector growth potential and stable long-term assets. No financial details on post-money valuation, revenue, ARR, or EBITDA for Iguá Saneamento around the round date appear in the sources. CPP Investments' infrastructure portfolio returned 2.6% in FY2024, with Latin America comprising 6% of its geographic allocation.
Jul 2018Undisclosed stageAlberta Investment Management; IG4 Capital$107MIguá Saneamento is a Brazilian private water and sewage holding company operating concessions and public-private partnerships across multiple states, serving millions of people through water supply and sewage systems. In July 2018, Alberta Investment Management Corporation (AIMCo) anchored a primary capital injection of R$400 million into FIP Iguá and FIP Mayim, investment vehicles controlled by IG4 Capital, which holds a controlling 67.76% stake in Iguá, with BNDESPAR at 10.56%. FIP Mayim, fully owned by AIMCo initially, directly holds 21.68% of Iguá's equity. The funds supported investments in 18 existing concessions and new opportunities in the sector. Later, AIMCo increased its stake by acquiring Galvão Participações' 20% interest, reaching 49.2% through IG4-managed funds. For the fiscal year 2018, proximate to the round, Iguá reported EBITDA of R$255.2 million, up 20.3% from R$212.1 million in 2017. The company had turned profitable under IG4 control, posting R$30.2 million profit in 2017. Subsequent developments included sustainable debentures totaling R$880 million in 2020 for concessions in Cuiabá (R$620 million, 14-year, IPCA + 6.10%, AA-rated) and Paranaguá (R$260 million, 10-year, same rate), marking the largest private sanitation infrastructure debentures in Brazil and first sustainable ones in the sector. In 2021, CPP Investments acquired a 45% aggregate stake for R$1,178 million (R$514 million primary, R$664 million secondary), with AIMCo holding 38.6% and investing up to R$500 million more. Iguá won the CEDAE Block 2 concession for R$7.286 billion, expanding to Rio de Janeiro and adding one million clients, operating in 37 municipalities across five states serving six million people.

Who has invested in Iguá Saneamento?

3 investors have backed Iguá Saneamento across its funding rounds, including CPP Investments, Alberta Investment Management and IG4 Capital.

Lead investors include CPP Investments.


Iguá Saneamento Investors

Investors in Iguá Saneamento by funding rounds participated
InvestorHQRoundsRoleFirst check
Alberta Investment ManagementCanadaEdmonton1ParticipantJul 2018

This data is available for Pro users. Sign up to see all 3 Iguá Saneamento investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Iguá Saneamento Competitors

Iguá Saneamento competitors include listed companies like Waste Management, Republic Services, Waste Connections and Veolia, and private ones like Redwood Materials and FCC Medio Ambiente.

Public and private companies comparable to Iguá Saneamento
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Waste ManagementUnited StatesUnited StatesPublicly listed$25B$7.2B$85B4.1x
Republic ServicesUnited StatesUnited StatesPublicly listed$17B$5.1B$67B4.8x
Waste ConnectionsCanadaCanadaPublicly listed$9.5B$3B$39B4.9x
VeoliaFranceFrancePublicly listed$51B$7.2B$27B1.0x
Redwood MaterialsUnited StatesCarson City, NVPrivate$200M-$6B30.0x
FCC Medio AmbienteSpainMadridPrivate--$4.4B-

Iguá Saneamento Public Comps

Iguá Saneamento is still privately-owned, but its public comps include Waste Management, Republic Services, Waste Connections, Veolia, Veralto, GFL Environmental, Clean Harbors, Zurn Elkay, Canmax Technologies and Umicore.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Waste Management$25B$7.2B4.3x4.1x15.0x13.5x
Republic Services$17B$5.1B4.9x4.8x16.0x14.8x
Waste Connections$9.5B$3B5.1x4.9x16.3x14.8x
Veolia$51B$7.2B1.0x1.0x7.1x6.1x
Veralto$5.5B$1.3B4.4x4.2x18.2x16.7x
GFL Environmental$4.7B$1.4B5.5x5.0x18.1x16.4x
Clean Harbors$6B$1.1B3.2x3.0x17.2x14.4x
Zurn Elkay$1.7B$374M4.6x4.3x20.8x15.9x

This data is available for Pro users. Sign up to see all Iguá Saneamento competitors and their valuation data.

Start Free Trial

Common questions about Iguá Saneamento

When was Iguá Saneamento founded?Iguá Saneamento was founded in 2006.
Where is Iguá Saneamento headquartered?Iguá Saneamento is headquartered in Brazil.
Is Iguá Saneamento publicly listed?No, Iguá Saneamento is a private, VC-backed company.
How much funding has Iguá Saneamento raised?Iguá Saneamento has raised $500M across 2 funding rounds.
What was Iguá Saneamento's last funding round?Iguá Saneamento's last funding round was a $393M undisclosed-stage round in September 2024, led by CPP Investments.
Who are Iguá Saneamento's investors?Iguá Saneamento's investors include Alberta Investment Management, IG4 Capital and CPP Investments.
Which companies are comparable to Iguá Saneamento?Companies comparable to Iguá Saneamento include Waste Management, Republic Services, Waste Connections, Veolia, Redwood Materials and FCC Medio Ambiente.

See companies similar to Iguá Saneamento

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial