Triwater Holdings Announces Investments In Two Leading Trenchless Rehabilitation Companies
CHICAGO, Jan. 28, 2013 /PRNewswire/ -- Triwater Holdings, a Chicago-based water treatment and infrastructure company backed by Bolder Capital LLC, announced today that it had completed growth capital investments in LMK Technologies and Perma-Liner Industries, the two market leading companies for trenchless rehabilitation of water and sewer infrastructure.
These two companies provide the industry's most extensive range of trenchless equipment, products and technologies used for the repair and rehabilitation of infrastructure utilizing "cured-in-place-pipe" ("CIPP") technology.
LMK Technologies, based in Ottawa, Ill., is recognized by many municipalities and engineering firms as an innovative leader for trenchless technologies for the renewal of sewer lateral infrastructure. Founded in 1993 by Larry Kiest Jr., LMK holds more than 90 issued national and international patents and has authored two specific ASTM standards (ASTM F2561-11 and ASTM 2599-11) for its advancements in trenchless pipe and sewer repair.
Perma-Liner Industries, based in Clearwater, Fla., has North America's largest distribution network of plumbing and drain cleaner contractors for CIPP lateral rehabilitation and mainline sewer repairs. Established in 1998 by Jerry D'Hulster, Perma-Liner has significant intellectual property assets and more than 1,000 certified installers of its technology with a strong international distribution network."We are extremely pleased to work with the two leaders in the trenchless sewer industry to provide capital and assist with their growth plans," said Mike Reardon, Chairman and Chief Executive Officer of Triwater Holdings. "Demand is increasing for trenchless solutions to the world's rapidly deteriorating water and sewer infrastructure problems. These solutions require creativity and reliable access to innovative technology. Our investment in capital and management will enable these two market leaders to accelerate their growth plans to provide more of their proprietary solutions to more customers in North America and around the world." These two companies, on a combined basis, comprise the most comprehensive array of products and technology in the trenchless industry —covering everything from laterals and manhole rehabilitation, to mainline sewer repair and proprietary gasket seals. They also have the industry's broadest distribution network of installers/contractors and the most extensive array of intellectual property, providing the most innovative "no-dig" solutions. The companies will continue to operate independently, to address the specific needs of their respective customer bases, market channels and individual growth plans. However, the companies may share certain intellectual property assets and "know how" to satisfy their respective customer requirements under licensing agreements. The companies previously announced they had settled patent litigation that had been pending between them.
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