Bow River Capital has sold AUC Group LP to Argosy Investment Partners. Financial terms weren’t announced. NewSpring Capital provided subordinated debt as well as an equity co-investment. Houston-based AUC provides wastewater treatment solutions to municipalities, Municipal Utility Districts and corporations. Community Banks of Colorado, a division of NBH Bank N.A., provided senior debt financing. Greene Holcomb Fisher advised AUC.
Greene Holcomb Fisher (“GHF”) is pleased to announce the successful sale of AUC Group, L.P. (“AUC” or the “Company”), a leading provider of wastewater treatment solutions to municipalities, Municipal Utility Districts and corporations, to Argosy Investment Partners (“Argosy”). GHF acted as exclusive financial advisor to AUC in the transaction. Prior to the transaction, AUC was a portfolio company of Bow River Capital, a Denver-based private equity fund.
“This transaction represents the seventh transaction for GHF’s Energy and Infrastructure team this year,” commented Bob Dovenberg, Managing Director at GHF. “We loved the business model from the day we met the Company, and we were honored to represent both the Company and Bow River in this transaction.”
Steve Hunter, Managing Director and Head of Sponsor Coverage at GHF, added, “This is our 12th transaction involving a Private Equity firm this year, and we expect to close at several more by the end of the year.”
Argosy partnered with NewSpring Capital, which provided subordinated debt as well as a significant equity co-investment. Community Banks of Colorado, a division of NBH Bank N.A., provided senior debt financing to support the acquisition as well as the Company’s future growth.
About AUC Group, L.P.
Founded in 1970 as TEC Industries, the Company is a leading provider of wastewater treatment solutions to municipalities, Municipal Utility Districts, and corporations primarily in the state of Texas. AUC provides a turnkey service offering composed of design, fabrication, installation, and financing of modular wastewater treatment facilities. The Company offers financing options to its customers including construction sales, installment sales, and leasing. Solutions are tailored to the capacity needs of municipalities and developers who find AUC’s modular solutions to be more cost effective.
The Company’s modular design and ability to scale the capacity of the plant to match customer needs provides a unique alternative to the traditional permanent facility. By partnering with AUC, developers and municipalities can efficiently handle their wastewater treatment needs and minimize up-front capital outlays.
About Greene Holcomb Fisher
Greene Holcomb Fisher, with offices in Minneapolis, Phoenix, Seattle and Atlanta, is an investment banking firm that specializes in mergers and acquisitions, private placements and financial advisory services for the middle market. At Greene Holcomb Fisher, experience from nationally prominent investment banks and leading law firms is blended with senior-level attention and entrepreneurial ingenuity to deliver creative services to high quality companies. Greene Holcomb Fisher investment bankers specialize in the Consumer, Food & Agribusiness, Healthcare, Industrial Products & Services, Business & Education Services, Technology and Energy & Infrastructure sectors. Greene Holcomb Fisher provides global reach through Clairfield International. For more information, please visit www.ghf.net andwww.clairfield.com.