Canadian private equity firm Newlook Capital has made an investment in Alabama and Georgia-based InSite, a provider of wastewater treatment facilities. No financial terms were disclosed.
Burlington ON, November 26, 2019 / – Newlook Capital Inc. (“Newlook”) is pleased to announce an investment into the InSite Group of Companies, including InSite Engineering, Living Water Services, and Living Water Utilities (collectively “InSite”), through its Industrial Services Fund II. InSite, operating in the Alabama and Georgia markets, designs, builds, maintains and operates wastewater treatment facilities. InSite has 35 employees and has been in business since 2005. Management remains in place and will continue to work with Newlook to grow the business through acquisitions and expansions into new markets.
“We are very proud of the work our team completed to close this transaction,” says Elroy Gust, Newlook’s CEO. “The InSite management team are great partners and this type of investment is exactly what our investors are looking for – institutional quality investments in companies providing a technical service, with long-term recurring revenue lines. Bryan Pate and his team at InSite have built a great business and we look forward to continuing to grow with them.”
Abbas Osman, Newlook’s CIO states, “we are excited to add this new platform to the fund. It is one that supports the thesis and we can see it scaling up with additional add-on acquisitions in this space.” Bryan Pate, the CEO of InSite adds, “We are very excited about our new relationship with Newlook Capital and feel strongly that this is a great alliance of teams. We look forward to working with Newlook and taking InSite to the next level.”