XPV Water Partners has acquired Environmental Operating Solutions for wastewater decontamination.
The Toronto water investor, which manages $400 million in capital, bought all of EOSi’s business of green chemicals and services for the removal of biological contaminants in wastewater.
The Cape Cod company’s carbon method, an alternative to methanol and other chemicals, is used by more than 500 U.S. wastewater treatment plants.
Operations will continue unchanged, the company said. Terms of the sale weren’t disclosed, but one investor, Meidlinger Water Investments LP, said the exit represented a 3.4 times return on its 2010 investment.
“We invested in EOSi because they had an innovative solution to effectively remove nitrogen and other toxic materials from municipal wastewater in a simple sustainable way,” said Ben Bingham of 3Sisters Sustainable Management, an advisor to Meidlinger. “Selling our share of the company provided our clients with a nice cash distribution.”
Read more here.