Sunday, March 29, 2015
Carlyle's Commitments Don't Hold Water
The Carlyle Group made two promises to Missoula, Montana when it purchased Park Water in 2011. It said it would offer the City of Missoula an opportunity to purchase the Mountain Water division. Second, it said it would not bottle Montana Mountain Water to sell on a global stage. Both promises evaporated when Carlyle reached a deal to sell Park Water to Algonquin/Liberty Utilities.
Carlyle found public infrastructure distasteful and shifted gears to energy. It seems a better fit for oily private equity underwriters (PEU), given their practice of holding others over a barrel.
Update 4-3-15: Carlyle's Robert Dove testified that he did not negotiate with the city for the purchase of Mountain Water.
Posted by PEU Report/State of the Division at 9:48 PM