Frontenac acquires Newterra
Frontenac Company, the Chicago-based private equity firm, has announced it has acquired Newterra Group Ltd., a company active globally in designing, engineering, manufacturing, and servicing modular treatment solutions for water, wastewater, and groundwater. Newterra’s portfolio of brands includes MicroClear Membranes, Cochrane, TIGG, Aeration Industries, StormwateRx, EPRO and Newterra. The financial terms of the transaction were not disclosed.
Newterra was founded in 1992 with brands dating back to 1863 and helps clients across a wide range of industries and sectors solve their water and wastewater challenges, offering both standard products and fully customized engineered solutions. Over the past several years, Newterra has acquired and integrated several companies in key industrial and municipal sectors, broadening its capability to address the needs of global customers.
President & CEO, Tom Vossman, along with the current executive team, will continue in their roles leading the company. Water industry veteran and a former Frontenac portfolio company CEO Jim McGivern will join the Board.
'We have enjoyed strong growth in the past several years as we executed a number of key initiatives that expanded our customer base, product and service capabilities, and global reach,' said Tom Vossman. 'With Frontenac as our new partner, we are excited to continue our expansion plans, both organic and inorganic, as we execute on our strategic plan to be a major force in the growing decentralized water treatment market around the world.'