Apollo Acquires Maverick Water Group for Texas Expansion

Apollo Funds have finalized the acquisition of Maverick Water Group, a Houston-based entity specializing in alternative non-potable water infrastructure. This strategic move, orchestrated by funds managed by Apollo, sees them taking over the operations from Crosstimbers Capital Group. Maverick, established in 2018, has carved a niche in developing and managing water systems designed for industrial, real estate, and community needs, particularly in water-scarce, high-growth regions of Texas. The company's management team will continue to steer the business, retaining a minority ownership stake.

The acquisition aligns with Apollo's significant infrastructure investment strategy, which has seen the firm deploy over $130 billion across infrastructure and related assets in the past five years. This sector is experiencing heightened demand driven by what is often termed the Global Industrial Renaissance, necessitating robust and modern physical infrastructure. Maverick's focus on sustainable water solutions directly addresses critical needs in rapidly expanding markets, making it an attractive addition to Apollo's portfolio.

Jon Levinson, a Managing Director within Apollo's Infrastructure Group, highlighted Maverick's unique position. "Maverick has constructed a distinct platform that delivers enduring water solutions across some of the nation's most dynamic growth corridors," Levinson stated. He further emphasized Apollo's intent to leverage its extensive infrastructure capabilities and industry acumen to support Maverick's expansion and its client base through this new growth phase.

Dustin Kinder, CEO of Maverick Water Group, expressed enthusiasm for the partnership. "We founded Maverick with the goal of providing dependable water services in areas where such resources are increasingly vital. We are proud of the platform and the trust our team has earned," Kinder remarked. He added that Apollo's alignment with Maverick's long-term objectives will fuel continued investment in innovative solutions, benefiting their clientele.

The transaction underscores the growing importance of resilient infrastructure in supporting community development and economic expansion. Maverick's model, which focuses on purpose-built, long-term contracted systems, offers a compelling solution for reducing costs and conserving precious potable water supplies. This is particularly relevant in Texas, a state grappling with significant population growth and fluctuating water availability, making alternative water sources a critical component of future development.

Crosstimbers Capital Group, the seller, expressed satisfaction with the outcome. Trevor Brock, Co-founder and Managing Partner of Crosstimbers, noted, "The principles of resilient infrastructure, innovation, and strong corporate partnerships are fundamental to fostering thriving communities – the very foundation upon which Maverick was built." He commended Kinder and the Maverick team for their exceptional business and culture, anticipating continued success under Apollo's stewardship.

This deal comes as the broader infrastructure sector, particularly in areas like water management and energy, attracts substantial private capital. Companies offering essential services with scalable models and clear demand drivers are prime targets for large asset managers like Apollo, which manages approximately $1.03 trillion in assets as of March 31, 2026. The acquisition of Maverick Water Group positions Apollo to capitalize on the ongoing need for advanced water infrastructure solutions in a rapidly developing economic region.