M&A Deal Summary

AquaVenture Holdings Acquires AUC Group

On November 1, 2018, AquaVenture Holdings acquired environmental company AUC Group from Argosy Private Equity and NewSpring Capital for 130M USD

Acquisition Highlights
  • This is AquaVenture Holdings’ 1st transaction in the Environmental sector.
  • This is AquaVenture Holdings’ largest (disclosed) transaction.
  • This is AquaVenture Holdings’ 2nd transaction in the United States.
  • This is AquaVenture Holdings’ 1st transaction in Texas.

M&A Deal Summary
Date 2018-11-01
Target AUC Group
Sector Environmental
Buyer(s) AquaVenture Holdings
Sellers(s) Argosy Private Equity
NewSpring Capital
Deal Type Add-on Acquisition
Deal Value 130M USD

Target

AUC Group

Houston, Texas, United States
AUC Group LP is a provider of a wastewater treatment and water reuse solutions primarily to property developers and municipal customers, including utility districts, in the United States. AUC Group was founded in 1970 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

AquaVenture Holdings

Tampa, Florida, United States
Category Company
Founded 2006
Sector Environmental
Employees665
Revenue 146M USD (2018)
DESCRIPTION

AquaVenture Holdings LLC is a multinational provider of Water-as-a-Service, or WAAS, solutions that provide customers with a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer. AquaVenture offers its solutions in North America, the Caribbean, Latin America, and the Middle East. AquaVenture was formed in 2006 and is based in Tampa, Florida.

DEAL STATS #
Overall 2 of 2
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-20 Quench USA

King of Prussia, Pennsylvania, United States

Quench USA is a water technology company that provides businesses with high-quality filtered water and other products enabled through its production, such as ice, coffee and tea. Quench systems are rented to its customers, and purify tap water using state-of-the-art technology, eliminating the need for environmentally-wasteful and expensive water delivery. Quench USA was formed in 1997 and is based in King of Prussia, Pennsylvania.

Buy -

Seller(S) 2

SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 34 of 54
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 22 of 39
State (Texas) 4 of 5
Country (United States) 34 of 54
Year (2018) 7 of 8
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-24 ACS Logistics

Saint Paul, Minnesota, United States

ACS Logistics is a provider of customized logistics solutions to the healthcare, financial services, technology, and home delivery industries. ACS Logistics was founded in 1990 and is based in Saint Paul, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-30 Roll-Rite

Alger, Michigan, United States

Roll-Rite LLC designs and manufactures application-specific automated and semi-automated tarping systems, motors, controls and tarps for open body dump trucks, open-top trailer and detachable containers serving the Construction, Agriculture, Waste and Recycling markets. With the recent additions of Automatic Load Covering and Pulltarps manufacturing acquisitions, Roll-Rite has one of the most complete product portfolios available to customers. Roll-Rite systems quickly and reliably contain and protect payloads, create a safer working environment for drivers, and maximize your return-on-investment by increasing revenues and reducing the cost of ownership.

Sell -
SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.

DEAL STATS #
Overall 51 of 86
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 32 of 48
State (Texas) 1 of 1
Country (United States) 50 of 85
Year (2018) 8 of 9
Size (of disclosed) 14 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-02 ExecOnline

New York City, New York, United States

ExecOnline is a provider of online leadership development programs that generate lasting organizational impact. ExecOnline’s university-certified programs in leadership, strategy, innovation, operations, and more, feature dynamic content tailored to the unique corporate objectives of its clients. Programs consist of on-demand video lectures, self-paced application exercises, and live online collaboration with faculty and a global community of high-achieving professionals. ExecOnline was founded in 2012 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 Messagepoint

Toronto, Ontario, Canada

Messagepoint engages in developing and delivering innovative software and services within the Customer Communications Management (“CCM”) market. Messagepoint provides non-technical business users with intelligent control over complex content to create more personalized, relevant, and timely customer communications in regulated industries such as financial services, insurance, and healthcare. The Company’s hybrid-cloud platform enables businesses to produce optimized customer communications at scale across a variety of distribution channels including print, email, mobile, and web. Messagepoint was founded in 1998 and is based in Toronto, Canada.

Buy -
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