Private equity firm Agilitas has backed the management buyout of Hydro International Limited (Hydro), a provider of products, services and technology for the treatment of wastewater and the control of stormwater, for municipal, industrial and construction customers.
Hydro is headquartered in the UK, with significant US operations, and has operated in the water management sector since the 1980s.
Hydro’s wastewater division provides products and services for wastewater treatment plants and is the US technology leader in grit removal equipment, whilst its stormwater division focuses on control, storage and quality management for stormwater run-off.
The company employs 219 staff, predominantly in the UK and in Maine and Oregon in the US.
Water management is an area of increasing government focus, as water scarcity grows in importance as a global issue, linked to increased population size, growing urbanisation and climate change.
Commenting on today’s announcement, Martin Calderbank, Managing Partner at Agilitas, says: “We see Hydro as an opportunity to invest in a clear technology leader in a growing sector that answers a fundamental need.”
Agilitas Partner and Hydro Board member, Torbjorn Midsem, adds: “We look forward to supporting the Hydro management team to build on the positive momentum in the business, to bring it to the next level through further geographic expansion, and through the extension of its services and products.”
Michael Jennings, who has been appointed Non-Executive Chairman of Hydro, says: “I am excited by the opportunity to work alongside Agilitas to continue the development of the Company into a diversified provider of wastewater and stormwater products and services.”
