DFW-backed Aqualis buys Kleenco USA

Aqualis Stormwater Management, which is backed by DFW Capital Partners, has acquired Kleenco USA, a provider of stormwater and lift station services in the central U.S.

Aqualis Stormwater Management, which is backed by DFW Capital Partners, has acquired Kleenco USA, a provider of stormwater and lift station services in the central U.S. No financial terms were disclosed.

PRESS RELEASE

AQUALIS Stormwater Management, a portfolio company of DFW Capital Partners and the leading national provider of stormwater preventative maintenance and corrective action, today announced that it has acquired the stormwater and lift station assets of KLEENCO USA (“KLEENCO”), a leading provider of stormwater and lift station services in the central United States.

The acquisition of KLEENCO supports AQUALIS’ strategy to provide nationwide stormwater management services. Additionally, the purchase of the lift station assets expands AQUALIS’ service offerings to support needs identified by its customer base.

Richard Matero, CEO of AQUALIS, said, “AQUALIS remains focused on broadened service provision in critical watershed areas throughout the U.S. The acquisition of the KLEENCO assets expands our ancillary service offerings oftentimes associated with stormwater management. KLEENCO is an excellent strategic fit for AQUALIS, allowing us to strengthen our position in the marketplace as the leading stormwater services company. KLEENCO’s flexible structure and employee expertise blend well with AQUALIS’ operations, allowing the company to handle emergency and reactive services, provide scheduled maintenance services, assist with local and state regulatory compliance as well as perform highly complex projects.”

“The partnership with AQUALIS is a win for the industry,” said Kurt Tatman, CEO of KLEENCO USA. “The combined entities create the most dominant provider of stormwater management services across the country and allows AQUALIS to expand their services into the lift station market. We are excited for our employees as it provides significant opportunity for growth and development for all.”

DeVer Warner of DFW Capital Partners added, “AQUALIS continues to deepen its capabilities and broaden its geographic reach, and we’re thrilled to support the company’s growth and mission.”

AQUALIS was founded in 2001 and is headquartered in Durham, N.C. Mr. Matero will continue to lead the company as CEO.

About AQUALIS

AQUALIS is a leading nationwide provider of commercial, retail, industrial and governmental post-construction stormwater management through stormwater consulting, inspection, maintenance and repair services. AQUALIS caters to national retailers, logistics providers, engineering firms, hospitals, military and industrial facilities, real estate management companies, distribution centers, national and multi-state organizations, individual and commercial property owners, airports and universities.