Nolan Capital, Inc. Announces Acquisition of a Majority Stake in Water Engineering, Inc. (“WEI”), a Leading Provider of Industrial Water Treatment Solutions, Chemicals and Services
- Nolan Capital is excited to partner with David and Katie Wagenfuhr and is confident in the opportunity to continue to grow and develop a prominent water treatment platform of scale
OMAHA, Neb.–(BUSINESS WIRE)–Water Engineering, a leading provider of industrial water treatment solutions and products with a commitment to sustainability for a complete water management approach, announced that it has welcomed a new ownership member with Nolan Capital as the majority partner. Nolan Capital’s existing Southern California-based water treatment portfolio company, Apollo Technologies, will join the Water Engineering platform with the aim to continue WEI’s acquisition strategy in the industry. The combined companies will serve an expanded footprint as a leader in water treatment solutions across 24 states.
David Wagenfuhr, the CEO and owner of Water Engineering since 2013, will lead the combined entities as CEO. His wife, Katie Wagenfuhr, who has worked for the company since 2013 and brings over 16 years of water treatment experience will continue in her role as Vice President, bringing considerable operational, project management and technical leadership. David and Katie are maintaining a significant ownership stake in the business and will lead the operations and consolidation strategy.
The partnership with Nolan Capital marks an exciting next step for Water Engineering, as Nolan Capital will partner with David, Katie, and the rest of WEI’s team to identify opportunities for growth and investment. With a service footprint across 24 states, WEI is well-positioned to serve a growing customer base. Apollo Technologies is also poised to benefit from David and Katie’s leadership as they share the same philosophy of providing superior customer service. There is a shared commitment to maintaining the current team and operations across the portfolio of companies, which succeed because of their service-first mentality.
“Water Engineering’s performance and value proposition is a testament to the team, product offering and operation that David and Katie so successfully lead,” said Peter Nolan, Chairman of Nolan Capital. “David excels in his leadership role, with a strong precedent for M&A and integration, and we trust that with him and Katie heading up our strategy, the company is in a strong position for continued success. With the collective knowledge, expertise and resources of our partnership, we can grow the Water Engineering companies into one of the leading water treatment platforms in the country.”
“I am proud of the team and operations that Katie and I have worked so hard to build. I also am fully aware that Apollo shares a similarly strong reputation in the space, and I look forward to the opportunity to lead these combined entities,” said David Wagenfuhr, the owner of Water Engineering. “I am confident we have found in Nolan Capital a partner that shares our vision for growth while also maintaining our operational emphasis on providing best-in-class service and solutions. Our collective team has a bright future. This is an exciting time in our industry, and I have no doubt that this partnership provides the strong resources for us to execute on our operational and acquisition strategy.”
About Water Engineering
Water Engineering is a leading provider of industrial water treatment solutions and products, technical consultation and services for a wide variety of end market applications. Founded in 1994 and headquartered in Omaha, NE, the business serves over 2,000 customers. Through eight acquisitions, WEI has expanded from a single-state footprint based in Nebraska to providing water treatment solutions across 24 states.
Contact: dwagenfuhr@h2oeng.com
Website: https://www.h2oeng.com/
About Apollo Technologies
Apollo Technologies is the leading water treatment service contractor in Southern California providing preventative maintenance offerings. Apollo’s field technicians service highly technical cooling tower and boiler systems with a high cost of failure dynamic. Founded in 1989 by Bob Ricks, Apollo performs its services across both California and Nevada.
Contact: dwagenfuhr@h2oeng.com
Website: https://apollotechnologiesinc.com/
About Nolan Capital, Inc.
Nolan Capital is the family office of Peter Nolan. Peter has more than 40 years of investing experience and was the former Managing Partner of Leonard Green and Partners in Los Angeles, California. He currently serves as a Senior Advisor to Leonard Green. Peter has investment experience in a variety of sectors, such as consumer products and services, retail and restaurants, manufacturing, distribution, industrial products, business services, government services and healthcare. Led by Peter Nolan, Nolan Capital executes and manages control investments in leading middle-market companies, real estate and other investments on behalf of the Nolan family.
Contact: browning@nolancap.com
Website: http://www.nolancap.com/
Contacts
Austin Browning
browning@nolancap.com
