BOURNE, Mass., March 9, 2017 – EOSi announced today that an investment group led by XPV Water Partners has partnered with EOSi management to purchase 100% of the outstanding shares of the Company from existing shareholders. The transaction was completed in early March.
“EOSi has built a strong, recurring business providing its MicroC® branded chemical products to water and wastewater facilities throughout North America for nitrogen, phosphorus, and selenium removal,” said David Henderson, Partner at XPV Water Partners. “We believe the Company’s unique service-based approach and its use of real-time facility operating data to improve regulatory compliance and reduce chemical costs at customer sites together provide a truly compelling value proposition,” he said. “We are excited to support EOSi as it continues to expand its business and delivers value to more and more customers.”
“We chose to partner with XPV Water Partners because of their deep domain expertise and commitment to making a difference in water,” said Eric Stoermer, President & CEO of EOSi. Stoermer said, “The relationship with XPV will enable the Company to grow and expand the business and help our customers continue to achieve their contaminant removal objectives. The transaction is a great outcome for all stakeholders, including customers, suppliers and employees,” he noted. “We will continue to operate the business with no changes or reductions in our product offerings, locations or employees.”
The financial terms of the transaction are not being disclosed. Houlihan Lokey served as the exclusive financial advisor to EOSi on the transaction.