KKR (NYSE: KKR) and XPV Water Partners announced they have signed a definitive agreement to sell Axius Water to CRH, a building materials company, according to a press release statement.

Axius Water was formed in 2019 by the two investment firms to consolidate companies in nutrient management and has developed into a provider of water quality solutions.

"As pressures on global water systems intensify, water quality challenges in developed markets are mounting," said Kyle Matter, Managing Director and Head of North America Global Impact at KKR. "We formed Axius alongside XPV to help address these challenges, bringing together specialized businesses into a scaled platform."

Chris McIntire, Axius Water CEO, said the company has assembled capabilities in water quality over recent years. "We're excited to enter this next chapter with CRH, whose resources and reach will allow us to bring our solutions to even more communities facing these challenges," McIntire stated.

David Henderson, Managing Partner at XPV Water Partners, noted that the firms supported the company in building scaling capabilities for broader deployment of water quality solutions.

The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals and closing conditions. Financial terms of the deal were not disclosed.

XPV Water Partners manages more than $1 billion in assets under management and focuses on water-related investments.