Goldman joins SAIF, Ares in backing China’s Fresh Water Group

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Goldman Sachs has become the latest private equity investor to commit capital to Chinese water purification company Fresh Water Group.

The firm joins existing investors SAIF Partners and Ares Management in backing the company, which said the new capital would be used to build a new manufacturing facility in Xi’an, Shaanxi province.

The facility will triple Fresh Water’s production capacity, the company said.

Fresh water founder and CEO Shu Xiao said, “We have been humbled by the rapid expansion of our business.

“China is increasingly focused on the quality of its drinking water and is recognising the unparalleled benefits of our product line and the convenience of our services.

“We are proud to have the support of such world-class institutions as SAIF, Ares Management and Goldman Sachs, each with an established track record of sponsoring high-growth businesses, and we are excited to see what we can achieve together.”

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