USFilter has completed the sale of its waterworks distribution business to National Waterworks Inc. for $620 million. National Waterworks Inc. is jointly owned by JPMorgan Partners, the private equity arm of J.P. Morgan Chase & Co., and Thomas H. Lee Partners, a Boston-based private equity firm.
The sale furthers USFilter's strategic focus on growth opportunities within its expanding business base of water-wastewater equipment and services, and consumer and commercial businesses, the company said in a news release. The waterworks distribution business distributes third-party water infrastructure hardware items such as pipes, hydrants, valves and meters through more than 140 sales and service centers in the United States.