Key Takeaways
- • Glenwood Private Equity and Mubadala Investment Company closed a co-investment in NanoH2O Co., Ltd., following the company's spin-off from LG Chem where it operated as a division since 2014.
- • NanoH2O is a Seoul-based global leader in energy-efficient reverse osmosis membranes for desalination and brackish water treatment, generating over 95% of revenue outside Korea and serving municipal and industrial customers worldwide.
- • The investment targets accelerating NanoH2O's growth across the MENA region and other key global markets as demand for clean water and energy-efficient desalination solutions continues to rise.
- • Glenwood PE CEO Sangho Lee highlighted the firm's strategy of identifying and partnering with high-quality businesses spun out as non-core assets from large conglomerates through corporate carve-outs.
- • All closing conditions and regulatory approvals have been satisfied, with co-investors joining Glenwood and Mubadala in the transaction.
Summary
Glenwood Private Equity, a Korea-based investment firm, and Abu Dhabi-headquartered Mubadala Investment Company, along with other co-investors, announced the completion of their co-investment in NanoH2O Co., Ltd. on December 3, 2025. The transaction closed following NanoH2O's transition from a division of LG Chem—where it had operated since 2014—to an independent company in 2025.
NanoH2O is positioned as a leading global provider of reverse osmosis (RO) membranes used in desalination and brackish water treatment applications. The company's technology is recognized for delivering the most energy-efficient large-scale desalination approach compared to thermal alternatives. With headquarters in Seoul, South Korea, NanoH2O derives over 95% of its revenue from markets outside Korea, serving a diversified customer base spanning municipal and industrial segments across multiple geographies.
Sangho Lee, CEO of Glenwood PE, framed the investment as reflecting the firm's core strategy of identifying and acquiring high-quality businesses that are classified as non-core or less central to their parent companies' primary operations. Lee stated that Glenwood remains committed to supporting NanoH2O in advancing sustainable water solutions and accelerating the company's growth trajectory in partnership with Mubadala and other co-investors.
Mubadala emphasized its conviction in NanoH2O's technology leadership and long-term growth potential, highlighting the investment's role in connecting the company with rising demand in the MENA region and other strategic global markets. The transaction represents a significant institutional commitment to the global water treatment and desalination sector, where energy efficiency and sustainability have emerged as critical competitive and regulatory drivers. All closing conditions and necessary regulatory approvals have been satisfied.
NanoH2O is positioned as a leading global provider of reverse osmosis (RO) membranes used in desalination and brackish water treatment applications. The company's technology is recognized for delivering the most energy-efficient large-scale desalination approach compared to thermal alternatives. With headquarters in Seoul, South Korea, NanoH2O derives over 95% of its revenue from markets outside Korea, serving a diversified customer base spanning municipal and industrial segments across multiple geographies.
Sangho Lee, CEO of Glenwood PE, framed the investment as reflecting the firm's core strategy of identifying and acquiring high-quality businesses that are classified as non-core or less central to their parent companies' primary operations. Lee stated that Glenwood remains committed to supporting NanoH2O in advancing sustainable water solutions and accelerating the company's growth trajectory in partnership with Mubadala and other co-investors.
Mubadala emphasized its conviction in NanoH2O's technology leadership and long-term growth potential, highlighting the investment's role in connecting the company with rising demand in the MENA region and other strategic global markets. The transaction represents a significant institutional commitment to the global water treatment and desalination sector, where energy efficiency and sustainability have emerged as critical competitive and regulatory drivers. All closing conditions and necessary regulatory approvals have been satisfied.
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