Yorkshire Water has today announced the completion of EQT’s acquisition of a 42% shareholding in its parent company, Kelda Holdings Ltd.

EQT will work in partnership with its co-shareholders, GIC and TCorp, and with Yorkshire Water’s management team to deliver sustainable operational improvements for the benefit of customers and the environment.

Yorkshire Water is currently undertaking its largest ever environmental investment programme, with a total of £8.3 billion dedicated to improving services and upgrading infrastructure throughout the Yorkshire region between 2025 and 2030.

Nicola Shaw, Chief Executive of Yorkshire Water said:

“We are pleased to have EQT on board as we deliver our largest environmental investment programme. They are committed to our turnaround plans and our ambition to deliver improved performance for customers and the environment. Together with our other shareholders, we are working to strengthen the business, investing for the future and delivering the improvements our customers expect. We look forward to working together to build on this momentum and continue delivering against our plans.”

Kunal Koya, EQT said:

“EQT is delighted to invest at a pivotal moment for Yorkshire Water and the wider sector. We bring long-term capital and deep infrastructure experience, and together with GIC and TCorp are committed to strengthening the company's financial resilience and supporting the delivery of its investment program which will enable better service for customers and improved environmental performance.

Board changes

In light of the significant investment programme ahead and the new ownership arrangements, Yorkshire Water has undertaken a review of its Board.

Vanda Murray, who has chaired the Company since September 2021, will stand down at the end of September 2026. Independent Non-Executive Directors Wendy Barnes and Nicola Medalova will stand down at the end of June 2026, and Andrew Wyllie at the end of his full term in August 2026.

Andrew Merrick and Furqan Alamgir will remain on the Yorkshire Water Board. New appointments to the Board, including the role of Chair, have been identified and will be announced in due course, subject to successful completion of the required regulatory processes.

In addition, Kunal Koya will now join the Yorkshire Water Board for EQT with Ray O’Toole and Isabelle Caumette (who both represented DWS) leaving the Board now the EQT transaction is complete. Simon Beer who has represented TCorp is leaving and his replacement will be announced in due course.