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A&O Shearman advised Quaero Capital on the refinancing of its water platform

A&O Shearman advised Quaero Capital on the refinancing of its water platform
Published Date
Oct 8, 2026
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Image of Driss Bererhi
Driss BererhiPartner, Paris
Image of Dorian Le
Dorian LeSenior Associate, Paris
Image of Anas Benmalek
Anas BenmalekSenior Associate, Paris
Image of Mathieu Vignon
Mathieu VignonPartner, Paris
Image of Virginie Chatté
Virginie ChattéSenior Associate, Paris
Image of Vanessa Cuellas
Vanessa CuellasPartner, Madrid
Image of Núria Ferré
Núria FerréSenior Associate, Madrid
Image of Natalia Ojeda
Natalia OjedaAssociate, Madrid
Image of Pierre Schleimer
Pierre SchleimerPartner, Luxembourg
Image of Philippe Storck
Philippe StorckSenior Associate, Luxembourg
A&O Shearman has advised Quaero Capital on the EUR240 million refinancing of its investment platform dedicated to the water sector. 

Operating primarily in Spain and France, the platform brings together companies specializing in drinking water distribution, municipal wastewater treatment, and services for industrial customers. Its portfolio includes Aqlara, a provider of water management services to municipalities in Spain, and Forafrance, a specialist in water-related industrial services in France. 

In addition to refinancing existing assets, the transaction provides the platform with additional financing capacity to pursue its external growth strategy and support the development of its portfolio companies. 

“We are pleased to have advised Quaero Capital on this transaction, which enables the firm to further develop its platform in this key sector.”

The A&O Shearman team was led by partner Driss Bererhi, with senior associates Dorian Le and Anas Benmalek on the financing aspects. Partner Mathieu Vignon and senior associate Virginie Chatté advised on tax matters. Partner Vanessa Cuellas, senior associate Nuria Ferre and associate Natalia Ojeda from the Madrid office, along with partner Pierre Schleimer and senior associate Philippe Storck from the Luxembourg office, also provided support on the matter. 

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