Street Talk

Pemba-backed water advisory biz Sequana makes waves with two bolt-ons

Sarah Thompson, Kanika Sood and Emma Rapaport

Jun 2, 2025 – 4.18pm

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Pemba Capital Partners-backed engineering and advisory business Sequana is making a splash in the water sector with a pair of significant bolt-on acquisitions.

Mike Walsh and Frank Fisseler founded Sequana in 2019 as a water project management business. Alana Holmberg / Oculi

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.