Deal Details

Cleanwater1 Is Acquired by Veralto

Industrial

Cleanwater1, a portfolio company of Baird Capital, sale to Veralto

Summary

Cleanwater1, Inc. ("Cleanwater1" or the “Company”), a portfolio company of Baird Capital, has entered into a definitive agreement to be acquired by Veralto (NYSE: VLTO) for $465 million. The transaction is subject to regulatory customary closing adjustments and is expected to close in the fourth quarter of 2026.

Baird served as the exclusive financial advisor to Cleanwater1 on this transaction.

About

Cleanwater1 is a leading provider of innovative water quality and odor control technologies, solutions and services across municipal and industrial water and wastewater markets. Cleanwater1 and its related entities pair using proven technologies and brands like Polyblend®, Dynablend™, Veloblend™, PAX Mixers, Monoclor® RCS, Microclor® OSHG and I-Box® Odor Control Systems, with cutting edge strategies and innovations to help customers meet and exceed water quality goals and regulations. Cleanwater1 is headquartered Milpitas, California.

Baird Capital invests in B2B technology and services companies across North America and the U.K., partnering with entrepreneurs to build exceptional companies. With deep operational expertise, an engaged portfolio operations team and an extensive global relationship network, Baird Capital works closely with its portfolio companies to enhance shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Committed to being a great place to work, Baird ranked No. 16 on the 2026 Fortune 100 Best Companies to Work For® list—its 23rd consecutive year of recognition. Baird Capital is headquartered in Chicago, Illinois.

With annual sales of approximately $5.5 billion, Veralto is a global leader in essential technology solutions with a proven track record of solving some of the most complex challenges they face as a society. Veralto’s industry-leading companies with globally recognized brands help billions of people around the world access clean water, safe food and trusted essential goods. Veralto’s global team of about 17,000 associates is committed to making an enduring positive impact on our world and united by a powerful purpose: Safeguarding the World's Most Vital Resources™. Veralto is headquartered in Waltham, Massachusetts.

Industrial

Cleanwater1, a portfolio company of Baird Capital, sale to Veralto