March 7th, 2025 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of a commercial-scale water reclamation and reuse project (the “Facility”). Sparkstone served as the exclusive financial advisor to Equilibrium Capital, the majority owner of the Facility. Equilibrium sold its ownership to NextEra Distributed Water, a subsidiary of NextEra Energy, a developer of wastewater treatment and reclamation technologies. The transaction closed in June 2024.
The Facility, also known as the WaterHub at Philip Morris USA, is located in Richmond, Virginia. It is designed to intercept and reclaim industrial wastewater from an FDA-regulated manufacturing complex and reuse the treated effluent for utility purposes on-site. The Facility can produce 650,000 gallons per day of Level 1 Reclaimed Water per the State of Virginia standards. It is estimated to reduce the host’s potable water consumption by 40% and decrease total wastewater discharge by up to 70%.
Equilibrium is a private equity firm that develops and manages sustainable investment strategies with a focus on infrastructure assets across the agriculture, energy, transportation and heavy materials industries.
Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. It was founded in 2018 by three partners with decades of collective energy M&A experience. The firm’s goal is to provide independent and unbiased client service, execute transactions efficiently with senior-level bankers, and develop meaningful long-term relationships. More information can be found at www.sparkstonecap.com.