Underground Solutions acquires Process Solutions in $45M financing transaction

July 23, 2014
Underground Solutions recently announced that it successfully closed a $45-million financing transaction with Riverwood Capital of Menlo Park, Calif., with a portion of the transaction proceeds was used to acquire Process Solutions.


POWAY, CA, July 23, 2014 -- Underground Solutions, Inc. (UGSI), a company specializing in water and wastewater infrastructure technologies, recently announced that it successfully closed a $45-million financing transaction with Riverwood Capital of Menlo Park, Calif.

The structured transaction provides for an initial investment of $30-million in UGSI's Series C preferred stock, with an option for an additional $15-million investment. The financing represents one of the largest private equity transactions in the water technology sector in recent years.

A portion of the transaction proceeds was used to acquire Process Solutions, Inc. (PSI), of Campbell, Calif. PSI developed and sells two water treatment technologies: MicrOclor™ on-site hypochlorite generation for disinfection; and Tank Shark™ for efficient mixing of water reservoirs.

In 2012, UGSI acquired the Wallace & Tiernan® chemical feed assets -- composed of the PolyBlend®, Encore® and Varea-meter® brands, among others -- from Siemens Industry, Inc. and managed the successful turnaround of that business in 2013. The combination of the Wallace & Tiernan chemical feed assets and PSI creates a water industry specialist in chemical metering and disinfection.

See also:

"Case Study: Texas city expands water treatment plant with disinfection system"


About Underground Solutions

Underground Solutions, Inc. (UGSI) a private company, is a provider of infrastructure technologies to the water, wastewater and energy industries. With one of the most experienced water industry management teams, a historical compounded annual growth rate of 30% and a solid balance sheet, UGSI, Inc. intends to remain in the top tier of water and energy infrastructure companies from a growth and profitability perspective. For more information, visit www.ugsicorp.com.

About Process Solutions

PSI, Inc. is a water industry specialist in disinfection and mixing process technologies based in Campbell, Calif. PSI now retains on a full-time basis of nine individuals who jointly possess over 300 years of combined experience selling, designing, manufacturing, installing, and servicing similar onsite hypochlorite generation equipment and tank mixing equipment. Together this team has been involved with the successful installation many hypochlorite generation systems and Tank Shark systems. For more information, visit www.4psi.net.

###

Sponsored Recommendations

Fortify Your Security: 4 Essential Cybersecurity Practices for the Water and Wastewater Industry

Aug. 8, 2023
Cyber attackers know all too well that they can put critical infrastructure in difficult positions. Segments like water and wastewater have users that heavily rely on their utilities...

Where will next-generation automation take you?

Aug. 8, 2023
The Industries of the Future call for unprecedented sustainability and resilience and open, software-centric industrial automation is the answer. Smarter manufacturing starts...

Discover the transformative power of holistic motor management for the Water & Wastewater industry

Aug. 8, 2023
Digitization in the water and wastewater segment, including motor management, enables more reliable and consistent consumer service while reducing the water infrastructures carbon...

The Digital Solution: How Digitization is Driving Global Water Sustainability Goals

Aug. 8, 2023
With overwhelming challenges, it is becoming increasingly apparent that digital transformation in water processing and delivery operations can begin to help provide lower energy...