M&A Deal Summary

Turnspire Capital Partners and Backcast Partners Acquire USG Water Solutions

On February 27, 2023, private equity firms Turnspire Capital Partners and Backcast Partners acquired environmental company USG Water Solutions from Veolia North America

Acquisition Highlights
  • This is Turnspire Capital Partners’ 1st and Backcast Partners’ 1st transaction in the Environmental sector.
  • This is Turnspire Capital Partners’ 9th and Backcast Partners’ 6th transaction in the United States.
  • This is Turnspire Capital Partners’ 1st and Backcast Partners’ 1st transaction in Georgia.

M&A Deal Summary
Date 2023-02-27
Target USG Water Solutions
Sector Environmental
Buyer(s) Turnspire Capital Partners
Backcast Partners
Sellers(s) Veolia North America
Deal Type Divestiture

Target

USG Water Solutions

Atlanta, Georgia, United States
website
USG Water Solutions is a provider of water asset management services for small and medium public water utilities in North America. USG’s offerings include maintenance services for water storage tanks, pipe networks, and concrete structures in water and wastewater plants. USG Water Solutions is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

Turnspire Capital Partners

Investor

website

Category Private Equity Firm
Founded 2013
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Turnspire Capital Partners is a private investment firm focused on acquiring North American companies that have reached 'strategic, operational, or financial inflection points' with their business and could benefit from a hands-on investor. Turnspire will consider a variety of transaction situations, including special situations, corporate carve-outs, and family transitions. Sectors of interest include aerospace/defense, automotive, machinery, chemicals, consumer, building materials, food/beverages, logistics, metals, packaging, and plastics. Prospective companies generally have revenues of $50 to $400 million. Turnspire Capital Partners was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 10 of 10
Sector (Environmental) 1 of 1
Type (Divestiture) 6 of 6
State (Georgia) 1 of 1
Country (United States) 9 of 9
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 UPG

Houston, Texas, United States

UPG is a provider of precision-engineered plastic injection molded products, program management, product integration, and value-added services primarily for the medical, data center, and industrial end markets.UPG provides customers with high-quality, low-cost, end-to-end solutions that meet or exceed all customer requirements and industry standards. UPG was founded in 1954 and is based in Houston, Texas.

Sell -
Buyer

Backcast Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2016
Size Small
Type Sector Agnostic
DESCRIPTION

Backcast Partners is a private investment firm focused on providing debt and equity financing solutions to mid-sized companies with $10 to $50 million in revenue. Backcast invests in businesses owned or backed by private equity firms, as well as businesses owned by families, management teams, or others. Investment proceeds are typically used for acquisitions, strategic and growth initiatives, or simply to refinance existing capital structures. Backcast Partners was formed in 2016 and is headquartered in Millburn, New Jersey.

DEAL STATS #
Overall 6 of 6
Sector (Environmental) 1 of 1
Type (Divestiture) 2 of 2
State (Georgia) 1 of 1
Country (United States) 6 of 6
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 The Arcticom Group

Walnut Creek, California, United States

The Arcticom Group is a U.S.-based network of commercial and industrial refrigeration companies that provide HVACR service/maintenance across the Western United States and installation services throughout North America. The Arcticom Group is based in Walnut Creek, California.

Sell -

Seller(S) 1

SELLER

Veolia North America

Chicago, Illinois, United States

website

Category Company
Founded 1984
Sector Environmental
DESCRIPTION

Veolia North America LLC is a designer and provider of water, waste and energy management solutions that contribute to the sustainable development of communities and industries.

DEAL STATS #
Overall 2 of 2
Sector (Environmental) 2 of 2
Type (Divestiture) 2 of 2
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 Energenix

Salem, Massachusetts, United States

Energenix Co., Inc. is a utility meter reading and billing service provider. Energenix is based in Salem, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-31 U.S. Industrial Technologies

Livonia, Michigan, United States

U.S. Industrial Technologies is a provider of total waste and recycling services that has managed industrial waste streams for automakers as well as other large manufacturers, medium and small businesses and governments and municipalities. U.S. Industrial Technologies was formed in 1996 and is based in Livonia, Michigan.

Buy -
Mergr

Product

Company

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