Unitywater and InterFinancial Deal celebration

Landing deal for Unitywater against the odds  

26.9.2023

Longstanding partnership builds solid foundations 

Since 2010, InterFinancial has worked alongside Unitywater to develop their growth strategy and a process that enables their Corporate Development team to successfully identify strategic investment opportunities. So, when they came to us with the opportunity to acquire a minority stake in their existing pipeline technology partner, Detection Services, we knew we had the knowledge and foundations to move ahead quickly.  

Twenty-four hours a day, seven days a week, Unitywater provides more than 800,000 customers in Moreton Bay, Sunshine Coast and Noosa with quality, safe and reliable water and wastewater services. 

Driven to be both economically and environmentally sustainable, their partnership with Detection Services to roll out smart sensors and testing and maintenance regimes across their networks, has saved 11 billion litres of water and $35 million over the past decade.   

The Unitywater team could see that a strategic investment in Detection Services would strengthen their partnership, driving an increase in the availability and adoption of advanced technology to manage their pipeline networks.  

Unitywater sewage treatment plant. Source: unitywater.com

Agile problem solving keeps door open 

Seeking a structured path to retirement, Detection Services’ majority shareholder was ready to progress a deal with Private Equity for a majority stake. They requested an offer from Unitywater within a week and, working around the clock and over a weekend, InterFinancial was able to deliver a valuation paper and draft an indicative offer four days later. At this point, whilst they could see the strength of their strategic partnership with Unitywater, Detection Services’ shareholders were still focused on landing a majority investment.  

Brainstorming novel solutions to the problem, our team proposed a co-investment with another InterFinancial client who had a strong strategic fit with both Unitywater and Detection Services. Very quickly, we were able to bring all three parties together for a meeting which allowed the new party to interrogate the opportunity and for Detection Services to understand the value they could bring as a shareholder.  

Despite keen interest from the proposed co-investor, as well as competing offers on the table, Detection Services ultimately decided to move ahead with Unitywater as a preferred partner.  Our collaborative approach and creative methods to meet the vendor’s objectives built trust and demonstrated Unitywater’s commitment to a long-term strategic partnership. Through the process we maintained strong relationships, retaining optionality for a future partnership with the third party.  

Finding hidden value to drive a win-win outcome 

During Due Diligence, InterFinancial’s role was to coordinate the process, and we also stepped in to carry out Commercial Due Diligence and parts of the Financial Due Diligence. The trust that we had built across all teams involved in the transaction meant that Detection Services and their advisors were receptive to our methodology and recommendations. Through a strong but collaborative negotiation process, and going over and above during due diligence, we were also able to drive a win-win outcome for Unitywater and Detection Services.

A five-month process from start to finish, the deal was completed at the end of August 2023 with both sides excited about the opportunities ahead.  

“On behalf of Unitywater, I would like to say a big thank you for your advice and assistance with this transaction and for providing a very professional and smooth process. Since learning we were late to the table 6 months ago, your contributions have been nothing but innovative, insightful and valuable.  Through the process, I believe we have secured a great investment for Unitywater.”

Paul Mitchell, Head of Corporate Development, Unitywater

“We’re thrilled to have brought this deal to a successful completion for Unitywater. Our long-term partnership, experience in the water and environmental services industry, and mid-market transaction expertise, meant that we deeply understood their needs and objectives and were able to move quickly despite the obstacles along the way.”

Anuk Manchanda, InterFinancial deal lead and specialist in mid-market M&A transactions in the general industrials and business services industries.
30.7.2025

Sector dashboards July 2025

Our monthly sector dashboards are out! Our dashboards look at the valuation multiples across seven key sectors, each made up of a number of subsectors. The data takes into account the sale prices of similar companies based on; products, end markets, services, assets classes or other characteristics. The publications include all companies listed on the […]

Read more
30.7.2025

InterFinancial advises Premise on its sale to Amey

Premise, a full-service consultancy that provides tailored solutions in engineering, planning, surveying, project management architecture, agricultural and environmental science, was sold to Amey, a leading provider of full life-cycle engineering, operations and decarbonisation solutions, for transport infrastructure and complex facilities  Premise Engineering is a multidisciplinary engineering and consulting firm founded in 2016 in Brisbane, Queensland, […]

Read more
30.7.2025

Mapping the PE landscape: Types of Private Equity in Australia (Part 2)

In our previous article, we explored the different types of private equity in Australia and the role each plays in helping businesses grow, transform, or turn around. These include Venture Capital, Growth Equity, Buyouts and Turnarounds.   This month, we look at some of the more emerging parts of the PE landscape.   Family offices and long-term […]

Read more
30.7.2025

From resources to results: Harnessing innovation in iron ore and renewable energy to accelerate Australia’s leadership in green iron and steel

Australia’s green iron opportunity: A global industrial transformation Australia stands at the threshold of a transformative opportunity that could redefine its role in the global economy. Australia has the resources, technology, and trade relationships needed to become a global leader in green iron production, but only if decisive policy action is taken now.  Green iron […]

Read more
30.7.2025

Employee Q&A: Luke Harwood

Whether he’s advising on multimillion-dollar cross-border acquisitions or helping an early-stage AI venture find its footing, Luke Harwood knows how to turn challenges into practical opportunities. With a career that’s taken him from infrastructure deals in Abu Dhabi to leading Telstra’s tech and innovation functions across China, the USA and Australia, Luke brings a unique […]

Read more
25.6.2025

Sector dashboards June 2025

Our monthly sector dashboards are out! Our dashboards look at the valuation multiples across seven key sectors, each made up of a number of subsectors. The data takes into account the sale prices of similar companies based on; products, end markets, services, assets classes or other characteristics. The publications include all companies listed on the […]

Read more
25.6.2025

Mapping the PE landscape: Types of Private Equity in Australia (Part 1)

Australia’s private equity (PE) sector is a dynamic and multifaceted market that supports companies through all stages of growth, from fledgling startups to mature enterprises. While it’s common to categorise private equity by business stage (early, growth, mature), several other key factors will help decide what may be the most practical private equity investor, these […]

Read more
25.6.2025

China’s 2025 Outbound Investment Outlook

The global M&A market has been in decline since 2022, following a record-setting surge in 2021. The downturn was primarily driven by rising interest rates, economic uncertainty, and geopolitical tensions. China’s M&A market is no exception. Since the COVID-19 pandemic, the Chinese economy has faced unprecedented challenges, including slowed GDP growth, weak consumer spending, an […]

Read more
25.6.2025

Employee Q&A: Natalie Knight

She’s not one to chase the spotlight. But for the past nine years, Natalie Knight has been a quiet force behind the scenes at InterFinancial. As our Administration Officer, she brings structure, calm and a sense of order to the everyday chaos that comes with managing a busy advisory firm.   From coordinating packed calendars, […]

Read more