Capstone Partners advised Aquatech International LLC (Aquatech), a global leader in water purification technology for industrial and infrastructure markets, on its recapitalization and JV partnership with Upwell LLC.
Headquartered in Canonsburg, PA, Aquatech’s technology focuses on desalination, water recycle and reuse, and zero liquid discharge.
Capstone proved to be an instrumental advisor to Aquatech as we worked to find the right partner for our outsourced solutions platform. Their focus in the water sector, knowledge of suitable partners globally, and ability to understand and solve commercial aspects of the joint venture was key in getting the transaction across the finish line.
Established in 1981, Aquatech helps the world’s most recognized companies solve important water challenges. Aquatech has locations throughout North America and have a significant presence worldwide through subsidiaries in Europe, the Middle East, India, and China.
“Our partnership with Upwell will allow us to offer Water Technology as a Service, providing a compelling solution to meet critical treatment needs with an accountable partner delivering a predictable cost of water operations. In essence, what we are offering is peace of mind and a good night’s sleep for our customers,” said Devesh Sharma, Managing Director of Aquatech. “Our customers get what they need – long-term reliability of water treatment and payment over time as they would for any utility service, but with a holistic approach of plant design and long-term operational service from a single provider. That makes getting better water treatment simple.”
“We are thrilled to have been Aquatech’s advisor on this milestone transaction” said Samrat Karnik, Co-Head of Industrial Technology Group at Capstone Partners. “This partnership will allow Aquatech to accelerate its transition to a solution minded company as an alternative to selling projects. We see this as a logical transition for many water treatment technology companies as they look to accelerate growth, diversify away from lumpy system sales, and above all else, more appropriately match their offering with what customers truly care about – hassle free, risk-free, most cost-effective water treatment without the burden of upfront capital costs.”
“Aquatech has been a global leader in treating water and wastewater for decades,” said Chris Morrison, Operating Partner, Upwell Water. “Aquatech’s technology, customer success record and water treatment operating expertise offer customers elite water treatment services at a compelling cost, all without a capital outlay for the client.”
Upwell Water delivers capital solutions to the water industry, enabling a sustainable water future. The firm’s team of water industry and capital markets executives’ partners with providers and end users of water solutions to deliver $1 billion of near-term investment in water-related businesses and assets. For more information, please visit www.water.llc.