Intrepid Investment Bankers, a leading middle-market investment bank and the advisory arm of MUFG, a global financial group, announced today that it acted as the exclusive financial advisor to Water Engineering, Inc. , a portfolio company of Nolan Capital, Inc., on its sale to Kemira Oyj.
Water Engineering: A Best-In-Class Water Treatment Platform
Headquartered in Mead, Nebraska, Water Engineering provides a full suite of water treatment services and solutions to customers across a range of commercial and industrial end markets, including food and beverage, manufacturing, healthcare and education. Since its acquisition by Nolan Capital in 2022, the company has undergone rapid expansion, driven by nine strategic add-on acquisitions and ongoing enhancements to its service offerings. Water Engineering has established itself as a premier national provider of water treatment services supported by a network of 14 facilities across the United States.
The Next Chapter
The partnership with Kemira presents a transformative opportunity for Water Engineering, enabling the company to accelerate its national growth and broaden capabilities by aligning with a global leader in sustainable chemical solutions. By integrating with Kemira, the company gains access to expanded resources and chemical expertise, and a global reach that will enhance its positioning as a leading provider of boiler and cooling tower treatment and industrial wastewater solutions. This transaction allows Kemira to expand its Water Solutions business into industrial water treatment services, a core aspect of its long-term strategy, and provides Kemira access to a robust services platform well-positioned for further organic and inorganic growth in the sector.
From the Client
“The Intrepid team delivered outstanding execution throughout the entire process,” said David Wagenfuhr, Chief Executive Officer of Water Engineering. “Their careful, detailed process management and commitment to achieving the best outcome were instrumental in securing a successful transaction. This was a great outcome for Water Engineering and Kemira, and we could not be more excited for what the future holds.”
Intrepid’s Role in Consummating Water Engineering’s Partnership with Kemira
“It was a pleasure working with David, Katie and the Nolan Capital team to facilitate Water Engineering’s partnership with Kemira,” said Jeremiah Mann, Managing Director and Head of the Industrials & Business Services Group at Intrepid. “David, Katie and their team have built an exceptional platform that will benefit greatly from the resources Kemira has to offer. We look forward to watching the company’s continued success in this new chapter.”