Mueller Water Products

Atlanta, United States (U.S.A.)
Invested through
  • Triodos Pioneer Impact Fund
  • Triodos Multi Impact Fund
  • Triodos Future Generations Fund
  • Triodos Impact Strategy Fund - Defensive
  • Triodos Impact Strategy Fund - Balanced
  • Triodos Impact Strategy Fund - Offensive
  • Triodos Impact Strategy Fund - Dynamic
Asset ClassesListed equity
Impact strategyImpact Equities and Bonds
Bloomberg tickerMWA US
ISIN codeUS6247581084
Industry groupCapital Goods
Aligned with SDGs

Mueller Water is a US supplier of products for the repair and maintenance of water infrastructure (transmission, distribution and measurement). It is active through two segments: Infrastructure and Technology. The infrastructure segment accounts for 90% of revenues. The company will change its segmentation into two new segments: Water Flow Solutions (60% of revenues) which contains valves and brass products and Water Management Solutions (40% of revenues). The latter contains fire hydrants, products for metering, leak detection and pressure control and software.

Investment rationale

The WHO states that: "Safe water, sanitation and hygiene (collectively known as WASH) are crucial for human health and well-being. Yet, millions of people globally lack adequate WASH services and consequently suffer from or are exposed to a multitude of preventable illnesses. Lack of safe WASH negatively impacts quality of life and undermines fundamental human rights. Poor WASH services also weaken health systems, threaten health security and place a heavy strain on economies." As it relates to children specifically, UNICEF states that over 700 children under age 5 die every day of diarrhea diseases due to lack of appropriate WASH services. In the US, more than 2,000,000 Americans live without access to safe drinking water and sanitation.

Mueller Water enables access to water and products to prevent waste of water. With almost 250,000 water main breaks a year, water waste is high in the US, as 30% of treated water is lost in the system. Combined with increasing droughts in the US due to climate change, responsible use of water becomes more important and improvement in water infrastructure and water leakage detectors can realise large water savings. Part of this is due to need to upgrade existing water infrastructure. Mueller Water helps to address this challenge through both infrastructure upgrades and offering the technologies to measure water usage, detect leaks and so on. The company therefore contributes to better conservation of and providing access to a scarce resource.