PRESS RELEASE:
LOUISVILLE, Ky.–(BUSINESS WIRE)–April 22, 2016–
Warren Equity Partners, a middle market private equity firm, announced today that it has completed an investment into Hydromax USA LLC (“Hydromax USA” or the “Company”), a professional services company specializing in data collection for the purposes of locating and assessing the condition of water, wastewater and natural gas conveyance systems. Financial terms of the transaction were not disclosed.
For over a decade, Hydromax USA has been a leader in providing data services to utilities and municipalities for the management of wastewater and water infrastructure, as well as cross bore mitigation and leak detection services to natural gas utilities. The Company has experienced rapid growth over the past several years, primarily driven by its unique product solution that provides customers with geospacial verification and a digital rendering of the location and condition of their assets. Hydromax USA continues to expand its offerings in each core segment by integrating disparate, differentiated technologies into its product platform.
Steve Lacy, a founder of Hydromax USA, commented, “We chose to partner with Warren Equity due to their experience in the infrastructure services sector and ability to provide valuable strategic guidance during our next chapter of growth. We also recognized that Warren Equity truly believes in our mission as a company and supports our unique culture. We look forward to having them as our partner.”
“We are extremely proud of the substantial growth the Company has achieved over the past few years. Looking forward, our partnership with Warren Equity will position us to build our market presence and technology offerings in both current and new markets,” said Mark Wallbom, Chief Financial Officer of Hydromax USA.
“Hydromax has an outstanding track record of innovation and growth,” said Steven Wacaster, a Partner at Warren Equity. “We have developed a great relationship with the founders over the past year and are excited to partner with such a well-respected team to build the business. Also, as a provider of differentiated services to the water, wastewater and natural gas markets, Hydromax is a great fit into one of our key strategic investment verticals, the infrastructure services sector.”
This transaction is Warren Equity Partners’ second investment in 2016.
King & Spalding LLP acted as legal advisor to Warren Equity Partners. Jackson Kelly PLLC acted as legal advisor to Hydromax.
About Hydromax USA LLC
Hydromax, headquartered in Chandler, IN, is a professional services company specializing in data collection for the purposes of locating and assessing the condition of water, wastewater and natural gas conveyance systems. More information about Hydromax is available at https://www.hydromaxusa.com/.
About Warren Equity Partners
Warren Equity Partners is a private equity firm that invests in small and middle market operating companies primarily in North America. The firm invests in established companies where additional capital and operating resources can accelerate growth, targeting product and services companies in the industrial, infrastructure, energy and building sectors. Warren Equity invests in the form of buyouts, growth equity, and recapitalizations. For more information, please visit www.warrenequity.com.
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Warren Equity Partners
Jason Todd, 877-389-2227
jason.todd@hydromaxusa.com