XPV Water Partners acquires Environmental Operating Solutions, Inc. (EOSi)
BOURNE, Mass., March 9, 2017 – EOSi announced today that an investment group led by XPV Water Partners has partnered with EOSi management to purchase 100% of the outstanding shares of the Company from existing shareholders. The transaction was completed in early March.
“EOSi has built a strong, recurring business providing its MicroC® branded chemical products to water and wastewater facilities throughout North America for nitrogen, phosphorus, and selenium removal,” said David Henderson, Partner at XPV Water Partners. “We believe the Company’s unique service-based approach and its use of real-time facility operating data to improve regulatory compliance and reduce chemical costs at customer sites together provide a truly compelling value proposition,” he said. “We are excited to support EOSi as it continues to expand its business and delivers value to more and more customers.”
“We chose to partner with XPV Water Partners because of their deep domain expertise and commitment to making a difference in water,” said Eric Stoermer, President & CEO of EOSi. Stoermer said, “The relationship with XPV will enable the Company to grow and expand the business and help our customers continue to achieve their contaminant removal objectives. The transaction is a great outcome for all stakeholders, including customers, suppliers and employees,” he noted. “We will continue to operate the business with no changes or reductions in our product offerings, locations or employees.”
The financial terms of the transaction are not being disclosed. Houlihan Lokey served as the exclusive financial advisor to EOSi on the transaction.
ABOUT XPV WATER PARTNERS
XPV Water Partners is comprised of experienced water entrepreneurs, operators, and investment professionals dedicated to making a difference in water. XPV partners with, invests in, and actively supports entrepreneurial companies so they can grow and deliver value for all stakeholders. XPV manages over $400 million in investment capital from some of the top institutional investors in North America, Europe, the Middle East, and Asia. The XPV family of portfolio companies is making a difference in water both by driving more efficient management of the world’s most critical resource and by creating significant shareholder value that can help move the industry forward.
EOSi provides green chemicals and technical services for biological contaminant removal applications in water and wastewater treatment systems. EOSi’s agriculturally-derived line of MicroC® of premium carbon sources address contaminants including nitrogen, phosphorus, selenium and perchlorate. MicroC® products are also used as BOD supplements to sustain biomass during maintenance at industrial wastewater facilities and establish biomass for new system startups. MicroC® products provide a non-hazardous and environmentally sustainable alternative to methanol or other chemicals used in similar biological contaminant removal applications.
The Company’s MicroC® line of liquid chemicals is currently manufactured at 20 locations across the United States and is utilized by over 500 wastewater treatment facilities committed to a safer, more effective, and environmentally sustainable solution compared with methanol and other carbon sources. In addition, EOSi offers highly specialized technical expertise and support to help plant engineers and operators optimize the use of its products and achieve their effluent performance objectives. The Company’s proprietary Nitrack® program enables facilities to optimize chemical dosing and regulatory compliance for nutrient discharges by utilizing real-time operating data. EOSi is also engaged in research and development efforts focused on bringing the next generation of biological contaminant removal solutions to the market. EOSi was established in 2003 and is based in Bourne, Massachusetts (Cape Cod).
President & CEO, EOSi