Bristol Water is one of the 8 regulated water-only companies in England and Wales. It was founded in 1846 and is the sole water supplier in the Bristol area.

The company serves an area of approximately 2,400km2. It is responsible for the abstraction, treatment, storage and distribution of approximately 266 million litres of water every day to over 1.2 million people.

iCON acquired a 50% interest in Bristol Water in April 2016 through its acquisition of Capstone Infrastructure and then acquired an additional 30% interest in the company in January 2017. iCON realised its 80% interest in Bristol Water in June 2021.