Trivest Acquires Pelican Water Systems

Trivest Acquires Pelican Water Systems

Trivest Partners has completed the acquisition of Enviro Water Solutions (dba Pelican Water Systems), a designer and marketer of water purification products. Trivest acquired Pelican from the company’s Founders, Ronald Stanley, Richard Stanley and Chad Galloway. Pelican represents the 13th platform company investment in Trivest Fund IV, a $325 million fund which closed in July 2008.

Pelican offers a range of branded home water treatment products including the NaturSoft line of salt-free water softeners, whole-house water filters and iron removal systems. Nearly all of the Pelican’s sales are direct-to-consumer, driven by the company’s online lead generation capabilities and website. The company was founded in 2004 and is based in DeLand, FL (

“We had planned to run a broad process to sell our business, but we knew after our first meeting that Trivest was the right partner for us,” said Ron Stanley, one of Pelican’s Founders. “Their ‘Just Say No’ program was unique and very appealing. In addition, we knew that Pelican and its people would continue to prosper in the future under the leadership of the Trivest team, which was important to us.” The ‘Just Say No’ program is a campaign that Trivest uses to dispel seller preconceptions that private equity firms are rigid when it comes to transaction terms including owner reinvestment, capital structure, escrow indemnifications, working capital adjustments and re-trading.

“We are pleased that Pelican’s Founders chose Trivest as the best steward to lead the company to the next level,” said Troy Templeton, Trivest’s Managing Partner. “Pelican has built a very strong brand over the past few years, offering a disruptive technology in a very large addressable market. We believe the company is poised to continue its strong growth in an industry where consumers are seeking solutions that are both ‘green’ and cost effective.”

Trivest invests in founder or family owned businesses in the United States and Canada that have revenues of at least $25 million and cash flows of at least $5 million. Sectors of interest include business services, niche manufacturing, consumer products, and franchisors. The firm was founded in 1981 and has completed 200 transactions totaling more than $5 billion in value. Trivest is headquartered in Miami (

Woodbridge International (, an investment bank based in New Haven, CT, served as financial advisor to Pelican on the transaction.

© 2013 PEPD • Private Equity’s Leading News Magazine • 6-6-13

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