Capstone Partners advised Tetrasolv, Inc. and Tetrasolv Services, Inc.—an industry leader in specialized filtration, separation, and mobile media services and rentals—on its acquisition to Integrated Water Services, a portfolio company of Sciens Water Opportunities Management. The transaction closed in June 2026, and terms of the deal were not disclosed.
Founded in 1995, Tetrasolv is a provider of water treatment rental systems, custom-engineered filtration equipment, media removal and replacement services, and field support for industrial, municipal, environmental, and remediation applications. Operating from its 230,000-square-foot ASME-certified fabrication facility in Anderson, Indiana, and supported by service locations in Pennsylvania, Texas, and Florida, Tetrasolv delivers treatment solutions across the United States. For more information about Tetrasolv, click here.
Capstone’s deep understanding of our business, combined with their expertise across every phase of the transaction process, made them an invaluable partner. They provided thoughtful, objective advice and consistently advocated for our best interests. During the most challenging moments of the transaction, their confidence and guidance helped us stay the course and achieve a successful outcome. We couldn’t have asked for a better advisor.
“With the increasing demands and opportunities in the water and wastewater market, we found an ideal strategic partner in IWS,” continued Dallmer. “Our customers will continue to rely on our proven Tetrasolv team for rentals, media services, field support, and engineered treatment systems, now backed by greater design-build, engineering, and nationwide service capabilities.”
Tetrasolv will operate as a subsidiary of the IWS group, maintaining its manufacturing headquarters in Anderson, Indiana alongside its strategic service centers in Texas, Florida, and Pennsylvania. The unified group will leverage its combined footprint to accelerate sustainable water reclamation and environmental remediation deployments nationwide.
Ryan Sadkowski, Vice President at Capstone Partners, commented, “Tetrasolv was a highly rewarding engagement and a testament to the business Doug and Bill established in the market. It was a privilege to help them navigate a successful transaction and achieve their objectives. The management team built an exceptional water filtration platform with a recurring service model, differentiated technical expertise, and strong positioning across municipal and industrial water treatment markets. Through the process, we were able to identify a strategic partner in Integrated Water Services that shares management’s vision for future growth. We are proud of the outcome we delivered for the shareholders and grateful for the trust they placed in our team throughout the process. The outcome reflects the quality of the business they built and the dedication of everyone involved in the process.”
Headquartered in Austin, Texas with operations across the U.S. and Europe, Integrated Water Services, Inc. is a leader in modular, scalable process water and wastewater solutions for the mid-market. For more information about IWS, click here.
Sciens Water, the fund manager of the majority shareholders of the IWS Group, is an affiliate of Sciens Capital Management, LLC, an alternative asset management firm founded in 1994. With headquarters in New York and an office in London, Sciens launched the Sciens Water Opportunities Fund in 2018 to invest in the U.S. water sector. Sciens has invested in platform companies in several water sub-sectors, including utilities, treatment, storage, financing, and digital infrastructure. For more information about Sciens Water, click here.
The investment banking professionals on Capstone Partners’ dedicated Industrials Team work with leading middle market companies operating in the water filtration market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Industrials Banking Team, contact us here.
