ClearWater Solutions, which is backed by Keystone Capital Management, has acquired Midwest Water Operations, a Missouri-based provider of outsourced operations & maintenance services for water and wastewater facilities. No financial terms were disclosed. Honigman LLP provided legal counsel to CWS and Keystone on the deal.
Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that its portfolio company, ClearWater Solutions, LLC (“CWS”), has acquired Midwest Water Operations, LLC (“MWO”), a Missouri-based provider of outsourced operations & maintenance services for water and wastewater facilities. The combined business serves municipalities and private utilities in 12 states with approximately 400 employees across the greater Southeastern United States.
“This partnership is an incredible opportunity for our organizations to enhance our combined service offerings and draw on a larger footprint to better serve these communities which we are so passionate about,” Steve Cawood, CEO of CWS commented. “We believe this merger will accelerate our organic expansion and provide additional career development and growth opportunities for our people,” remarked Rick Ailiff, President of CWS.
“We are thrilled to be joining forces with the people at CWS. It has been a pleasure getting to know one another throughout this process, and we see many similarities in how these two organizations operate,” noted Ben Kuenzel, President of MWO. “MWO has historically been focused on O&M for private water and wastewater utilities. With CWS, not only can we serve private utilities across a broader geographic footprint, but we also see tremendous opportunity to serve municipal clients in our key states,” added Terry Merritt, Vice President of MWO.
“We are incredibly excited about the joint vision CWS and MWO share – to become a leading operations & maintenance company that serves as a true extension of the communities in which we live” said Erik Gernant, Vice President of Keystone. “This combination helps ensure both organizations have the resources and scale to achieve their vision, ambitiously grow, provide opportunities for their employees, and better serve their communities in new and exciting ways.”
Terms of the transaction are not being disclosed. Legal counsel was provided to CWS and Keystone by Honigman LLP.
About ClearWater Solutions
CWS (together with MWO) is a leading provider of water and wastewater treatment and construction services to governments, municipalities, privately-owned utilities, and water boards throughout Alabama, Mississippi, Georgia, South Carolina, Missouri, Louisiana, Tennessee, Kentucky, Arkansas, Texas, North Carolina, and Florida. The company’s purpose is to provide a safe and superior operation service and improve the quality of life in the communities it serves. The company plays a critical role in delivering safe and clean drinking water to its communities and ensuring wastewater is properly treated and compliant with federal regulations. The business today consists of approximately 400 people and continues to expand. For more information, please visit www.clearwatersol.com and www.midwestwaterop.com.