StormTrap acquired by Warren Equity
StormTrap, LLC provides stormwater management solutions to municipal, commercial, industrial and residential markets.
CHICAGO, DEC 27, 2018 -- StormTrap, LLC, a provider of stormwater management solutions to municipal, commercial, industrial and residential markets has been acquired by private equity fund Warren Equity Partners for an undisclosed amount.
Chicago's Daily Herald reports that Warren Equity acquired a majority interest in StormTrap from the Hawken family, who founded the company in 2002. The Hawken family invested alongside Warren Equity in the transaction and will remain on the board of directors going forward.
StormTrap designs and engineers precast concrete systems that store stormwater runoff in underground chambers before releasing it at a controlled rate or harvesting it for reuse.