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Orca Equity Partners, the UK-based specialist investor focused on profitable and resilient European SMEs, has announced the appointment of Adam Johnson as its first Orca Operator.
Adam is currently CEO of Water Direct, the UK’s leading provider of emergency and alternative water services. He has worked with members of the Orca team since acquiring Water Direct in 2022 through to its exit to the infrastructure arm of Eurazeo in 2025. Under his leadership, Water Direct grew revenue from £9.5M to £30M, delivering a strong return for investors, with a 4–5x MOIC and an estimated IRR of 40–45%. Prior to Water Direct, Adam held strategy roles at Red Ventures and holds an MBA from London Business School.
Orca Operators is a curated network of highly successful current and former CEOs who contribute their experience and know-how to support the next generation of Orca-backed entrepreneurs throughout their journeys.
Adam commented: “I couldn’t be more excited to be joining Orca in this way. It feels like a real full-circle moment, given the support the team has given me since the beginning of the Water Direct journey. I’m looking forward to offering some of that experience back to the next wave of entrepreneurs coming through the Orca portfolio.”
Orca commented: “Adam is exactly the calibre of operator we set out to bring into the Orca fold as an Orca Operator. His tenure at Water Direct shows that he knows how to lead and build a successful business. His judgement and energy will be invaluable to the businesses in our portfolio today and in the years to come.”
Orca is currently raising one of the largest funds in the European ETA space, which is expected to close in 2027. Among the most recent searchers backed by Orca are 13A Transmission and EPS Capital in France, Mediterraneum Investments and Eterna Partners in Italy, South Haven Capital in the Netherlands, CEON2 and AMS Socios in Spain, IronBridge Partners in Portugal, and Peak Partner Capital in the UK.
