LONG BEACH, Calif., Oct. 3, 2013 /PRNewswire/ -- APTwater Rochem®, located in Long Beach, California, announces the acquisition of Sepro Membranes in Oceanside, California. With this transaction, APTwater Rochem® have acquired the remaining shareholding of their longtime partner, Sojitz Corporation of Tokyo, Japan. Sepro specializes in the development and manufacture of high performance UF, MF and NF membranes and modules serving the water, food processing, mining, dairy and automotive industries. Terms of the agreement were not disclosed.
John Kaestle, APTwater CEO, stated, "We are very pleased to close this transaction with our longtime partner Sojitz. Sepro Membranes are core to our strategy going forward and we are excited about the prospects for growing the business. Additive to strong technology and manufacturing capabilities, we are acquiring a capable and committed staff and we expect to invest in capital expansions over the next two years to expand Sepro's capabilities and new products."
Masayuki Hashimoto, General Manager Sojitz commented, "We have enjoyed a great working relationship with APTwater Rochem and are happy to change our style of working relationship. We look forward to continuing to work closely with APTwater Rochem®."
Michael Froud, Chief Growth Officer for APTwater added, "Sepro is core to our membrane led Growth Strategy and we have high expectations for investing in and growing the business with existing customers and partners. In addition, Sepro's development in the area of ' functionalized membranes' is opening very promising new markets for our systems, modules and membranes to solve unique and challenging problems in the area of 'difficult to treat' waters and process fluids."Steven Jackson, Chief Financial Officer for APTwater acknowledged the flexibility and speed of response from our financing partners, Hercules Technology Growth Capital, who were instrumental in helping us close the transaction, stating, "It is always important to have partners like Hercules who take the time to understand the business strategy and what is required to support an organization's growth both in the short term and long term." About: APTwater Rochem® focus on difficult to treat waters for landfill leachate, Marine, Mining, Nuclear and Oil & Gas markets. Headquartered in Long Beach, California, with facilities in Germany, Italy and Singapore, APT is backed by Venture Capital partners, including Kleiner Perkins Caufield & Byers, XPV, Waste Management's Venture arm and Seacor Holdings. For more information please refer to www.aptwater.com. Sepro Membranes is now a wholly owned subsidiary of APTwater. Previously, Sepro was a joint venture company with ownership shared by APTwater and Sojitz. Sepro specializes in high performance UF, MF and NF membranes serving the water, food processing, mining, dairy and automotive industries. Sojitz Corporation is a multi-billion dollar trading company in Tokyo, Japan. Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science and energy and renewables technology industries, at all stages of development. Since inception ( December 2003), Hercules has committed more than $3.9 billion to over 250 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Hercules' common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol "HTGC."