The firm buys Dynatec Systems, a 1978-founded specialist in filtering manufacturers’ toughest water
Dynatec Systems designs, builds, operates, and services systems that treat the wastewater produced by factories and other industrial sites, using membrane technology to strip out contaminants so the water can be safely discharged or reused.
August 19, 2026|John McNulty
Astara Capital Partners has acquired Dynatec Systems, a designer and operator of membrane-based systems that clean industrial wastewater. Astara partnered on this transaction with founder Tom Doherty who retains a meaningful ownership stake in the company and stays on to run the business.
Dynatec Systems designs, builds, operates, and services systems that treat the wastewater produced by factories and other industrial sites, using membrane technology to strip out contaminants so the water can be safely discharged or reused.
The company both delivers engineered treatment plants and, in many cases, runs and maintains them for customers on an ongoing basis, turning a one-time equipment sale into a continuing service relationship. Dynatec’s customers include blue-chip manufacturers operating in the food and beverage, automotive, data centers, waste handling, and general manufacturing sectors.
Membrane technology uses extremely fine filters to push water through a barrier whose microscopic pores hold back dissolved solids, oils, and other contaminants, a family of techniques that includes reverse osmosis. Dynatec engineers these systems for the specific and often difficult waste streams a given plant produces, then can operate them under contract, monitoring performance and handling maintenance so the customer meets its discharge permits and can recycle water back into its processes. That combination of design, build, and long-term operation is central to how the company serves industrial sites.
Dynatec was founded in 1978 by Tom Doherty and has spent more than four decades in industrial water treatment. Mr. Doherty remains founder and president and retains a meaningful ownership stake in the business, while water-industry executive Hu Fleming joins as executive chairman. Dynatec is headquartered about 20 miles northeast of Philadelphia in Burlington, New Jersey.
“I founded Dynatec in 1978 to provide membrane wastewater solutions, and I’m proud of everything our team has accomplished since,” said Mr. Doherty. “Astara is the right partner to carry that legacy forward, and I look forward to seeing the continued growth of the company.”
Industrial wastewater treatment — cleaning the contaminated water that manufacturing, food processing, energy, and other operations produce — is being pushed by tighter environmental rules and by growing pressure to reuse water rather than discharge it. The global market was worth about $20 billion in 2025 and is projected to grow about 5.5% a year to roughly $32.2 billion by 2034, with the United States portion estimated at about $6.6 billion in 2026, according to Fortune Business Insights.
Demand in the sector is also being shaped by water scarcity, zero-liquid-discharge requirements in water-stressed regions, and the spread of membrane and reverse-osmosis systems capable of handling harder-to-treat streams. Newer sources of demand, including the water needs of data centers and continued manufacturing investment, are adding to the pressure on industrial water systems.
Lindsey Tannenbaum
“We are excited to partner with Dynatec, a respected leader with decades of experience in industrial wastewater treatment,” said Lindsey Tannenbaum, a partner at Astara. “Industrial and manufacturing companies are facing mounting pressure to treat and reuse their toughest waste streams, and Dynatec’s service offering is uniquely suited to help. Our priority is to keep delivering the best-in-class solutions and exceptional service Dynatec’s customers count on, while investing strategically in organic growth initiatives and transformative process improvements to meet rapidly growing demand.”
Astara Capital Partners is a middle-market private equity firm founded in 2020 and based in New York, led by founder and managing partner Michael Ranson. The firm invests $10 million to $100 million of equity in North American companies with revenue above $40 million and enterprise values up to $250 million, focusing on packaging and converting, food processing and distribution, building and forest products, aerospace and defense, niche manufacturing, and industrial services. Astara closed its debut fund with $312 million of capital in September 2023 and manages more than $400 million in capital commitments.
