Frontenac acquires Newterra Group

Submitted 04/11/2020 - 10:07am

Frontenac Company (Frontenac) has acquired Newterra Group (Newterra), a Global Modular Water Treatment Company, from its current shareholders including institutional investors XPV Water Partners and Angeleno Group,. The financial terms of the transaction have not been disclosed.

Newterra is a specialist in designing, engineering, manufacturing, and servicing modular treatment solutions for water, wastewater, stormwater, and groundwater. Founded in 1992 with brands dating back to 1863, Newterra helps clients across a wide range of industries and sectors solve their water and wastewater challenges, offering both standard products and fully customised engineered solutions. Over the past several years in addition to robust organic growth, Newterra has acquired and integrated several companies in key industrial and municipal sectors, broadening its capability to address the needs of global customers with their water and wastewater challenges. President & CEO, Tom Vossman, along with the current executive team, will continue in their roles leading the Company. Water industry veteran and a former Frontenac portfolio company CEO Jim McGivern will join the Board.

“We have enjoyed strong growth in the past several years as we executed a number of key initiatives that expanded our customer base, product and service capabilities, and global reach,” says Tom Vossman. “With Frontenac as our new partner, we are excited to continue our expansion plans, both organic and inorganic, as we execute on our strategic plan to be a major force in the growing decentralised water treatment market around the world.”

Ron Kuehl, Managing Director of Frontenac, says: “Newterra has built an impressive business and carved out a leading role for itself within the water treatment category. The company’s creative solutions and vast capabilities position it to benefit from the increasing demand for clean water across the globe. Despite the challenges facing the economy this year, the Company has continued to perform exceptionally well by driving sales, completing strategic acquisitions, and expanding margins. We’re excited to partner with Tom, Jim, and the entire team going forward.”

David Henderson, Managing Partner at XPV Water Partners, adds: “We are very proud that Newterra has established itself as a global industry leader in the decentralised water treatment market, and we are excited to see the next steps of their growth with Frontenac. Newterra has been an important part of the XPV portfolio as they have made a significant and positive impact on water resources all around the world.”

Daniel Weiss, Managing Partner of Angeleno Group, says: “We congratulate Tom Vossman and the talented team at Newterra as they enter this exciting next phase of the company’s growth. Not only have they built a leading advanced modular wastewater treatment technology business, but Newterra has made a real contribution to its customers and the planet - helping clients in a wide range of industries operate more efficiently, sustainably and safely - annually treating over 60 billion gallons of water worldwide. We are proud of their impact as an Angeleno Group portfolio company.”
 

Tags Deals & Transactions Acquisitions