Triwater Divests Water Treatment Solutions Division

ROSEMONT, Ill., Oct. 17, 2018 /PRNewswire/ -- Triwater Holdings LLC ("Triwater") today announced the recent sale of its subsidiary TWH Water Treatment Industries, Inc. ("Water Treatment Solutions" or the "Company") to DuBois Chemicals, Inc. ("DuBois").

Triwater's Water Treatment Solutions division commenced in 2012 with the acquisition of Nashville Chemical. Triwater and Company management subsequently completed three complementary acquisitions, made significant investments in people, facilities (both U.S. and Canada expansions) and overall business growth drivers, and aligned the organization into a divisional structure. "The established management team at Water Treatment Solutions did an outstanding job of bringing together beneficial support and results for their customers. DuBois is an excellent fit for this business platform, and customers will continue to benefit from this merger," said Larry Quick, CEO of Triwater.

"Edgewater thoroughly enjoyed working with Triwater and Company management in building a tremendous water treatment organization," said Edgewater Partner David Tolmie, one of the equity investors.  "We are confident that Water Treatment Solutions is well positioned to continue its growth in partnership with the DuBois platform."

This is the second divisional sale for Triwater this year, with their Filtration Division having been acquired by Culligan International in March 2018. Triwater's remaining division is Waterline Renewal Technologies ("WRT"). "As a leader in the trenchless pipe rehabilitation industry, WRT is well positioned to provide solutions to the growing wastewater infrastructure problems through our best-in-class brands," said Matt Fishbune, EVP of Triwater and President of WRT. "We have structured our organization to accelerate growth through our multiple channels to market and technology offerings for our valued customers, as we strive to continue improving water-use integrity by rehabilitating degraded infrastructure for the end users."

About Water Treatment Solutions
Water Treatment Solutions is a leading provider of expertly managed water treatment program solutions for national, regional and local customers across diverse end markets. The Company's chemical-based treatment programs protect mission critical assets, reduce energy / water usage and improve asset efficiency and longevity by preventing scale formation on heat exchange surfaces, minimizing other surface deposits and inhibiting corrosion. Water Treatment Solutions is headquartered in Rosemont, Illinois, and encompasses the following brands: Nashville Chemical, Klenzoid Canada, Eldon Water and Chemco Products.

About The Edgewater Funds
The Edgewater Funds is a private equity firm focused on investing in middle-market companies, with over $2.7 billion of capital commitments raised since 2001. Edgewater is headquartered in Chicago, Illinois.

About JZ Capital Partners
JZ Capital Partners is a closed-end fund, listed on the London Stock Exchange, with more than $1 billion of assets under management. JZCP invests selectively in U.S. and European microcap companies and U.S. real estate. JZCP is headquartered in London, England and receives investment advice from Jordan/Zalaznick Advisers, Inc. which has teams of investment professionals in New York, Chicago, London and Madrid.

Baird served as the exclusive financial advisor to Water Treatment Industries, Inc. on this transaction.

SOURCE Triwater Holdings LLC