London-based AshGrove Capital has completed a €26 million senior secured investment in Finnish digital water management leader Smartvatten, supporting its acquisition of submetering specialist LeakLook and fuelling its next growth stage.

The combined business will now monitor real-time water flows across more than 40,000 properties in 30 countries, helping clients cut waste, detect leaks and achieve sustainability goals.

AshGrove’s investment, introduced through its ongoing partnership with Norvestor, strengthens its growing Nordic presence following a similar deal with ESG software firm Position Green last year.

This marks the eighth investment from th firm’s €650m Specialty Lending Fund II.