Warren Equity Partners has made an investment in Hydromax USA, a collector of data used to locate and assess the condition of water, wastewater and natural gas conveyance systems. Customers include water utilities, gas utilities and municipalities.
According to Warren Equity, Hydromax has experienced rapid growth over the past several years, driven primarily by its unique product offering that provides customers with geospacial verification and a digital rendering of the location and condition of their assets. The investment in Hydromax, founded in 2003 and headquartered west of Louisville in Chandler, IN (www.hydromaxusa.com), is Warren’s second investment in 2016.
“We chose to partner with Warren Equity due to their experience in the infrastructure services sector and ability to provide strategic guidance during our next chapter of growth,” said Steve Lacy, a founder of Hydromax.
Warren Equity Partners makes control and non-control investments of $5 million to $40 million in North American-based small and middle market companies that are active in the infrastructure, industrial, and building sectors. The firm was founded by Steven Wacaster, a former partner at Pegasus Capital Advisors, and Henrik Dahlback, a former investment banker at Royal Bank of Canada. The firm is headquartered in Jacksonville Beach, FL (www.warrenequity.com).
“Hydromax has an outstanding track record of innovation and growth,” said Mr. Wacaster. “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.”
“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.
King & Spalding (www.kslaw.com) acted as legal advisor to Warren Equity, and Jackson Kelly (www.jacksonkelly.com) acted as legal advisor to Hydromax.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-26-16
