Apollo funds acquire Maverick Water Group from Crosstimbers

Apollo (NYSE: APO) announced that Apollo-managed funds have acquired Maverick Water Group, a Houston-based developer, owner, and operator of alternative non-potable water systems serving communities across Texas, from funds managed by Crosstimbers Capital Group.

Maverick's management team retains a minority stake and will continue to operate the company. Financial terms of the transaction were not disclosed.

Founded in 2018, Maverick develops water system assets built in partnership with real estate development and industrial customers to support non-potable water supply. The company serves real estate, data center, industrial, and energy customers across Texas.

Jon Levinson, Managing Director in Apollo's Infrastructure Group, said the firm plans to use its infrastructure platform and industry expertise to support Maverick and its customers through its next phase of growth.

Dustin Kinder, Chief Executive Officer of Maverick Water Group, said Apollo shares the company's long-term vision and that the partnership will enable continued investment in solutions for its customers.

Guggenheim Securities acted as financial advisor to Maverick. Latham & Watkins LLP served as legal counsel to Crosstimbers, and Vinson & Elkins LLP served as legal counsel to Apollo Funds.

According to the press release, Apollo Funds have deployed more than $130 billion across infrastructure and infrastructure-related investments over the past five years. As of March 31, 2026, Apollo reported approximately $1.03 trillion in assets under management.

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