O2 Adds to Vessco

Vessco, a portfolio company of O2 Investment Partners since November 2018, has acquired Dorner Products, a supplier of flow control equipment.

Dorner is a supplier of water and wastewater treatment technology specializing in flow control equipment and services. The company’s flagship products include valves and actuators which move or control fluid in a variety of applications.

Dorner services all industries, but focuses primarily on water and wastewater treatment plants, power plants, industrial processing facilities and original equipment manufacturers. Dorner was founded in 1911 by Fred Dorner and is headquartered near Milwaukee in Sussex, WI (www.dornerco.com).

Vessco is a water treatment company providing value-added distribution of parts and equipment as wells as engineering support services for municipal and industrial water and wastewater treatment projects, primarily in the upper Midwest and the central United States. The company’s water treatment services include initial consultation and design, installation assistance, field service and parts delivery. Vessco, founded in 1983, is led by CEO Dick Corbett and President Brian DeWolf. The company is headquartered near Minneapolis in Chanhassen, MN with an additional office in Ames, IA (www.vessco.com).

“The combination of Dorner and Vessco expands the platform’s flow control capabilities in the Midwest,” said Pat Corden, a vice president at O2 Investment Partners. “It’s an excellent strategic fit and we are excited to continue growing the business with our partners.”

O2 makes control investments of $5 million to $75 million in companies with EBITDAs from $2 million to $10 million located anywhere in the US and Canada but prefers the Midwest and the Great Lakes regions. Sectors of interest include niche manufacturing, niche distribution, select service businesses, and certain technology businesses. In October 2017, the firm held a final closing of its Oxygen Fund with an above-target $100 million of capital commitments. O2, based in the Detroit suburb of Bloomfield Hills, is backed by the Orley family which has been investing in operating businesses and real estate since 1950 (www.o2investment.com).

© 2019 Private Equity Professional | March 12, 2019

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