XPV Water Partners Invests in Metron-Farnier, a Smart Water Technology Company Focused on Residential, Commercial and Sub-Metering Cellular Metering Systems
TORONTO, CANADA – June 5, 2019 – XPV Water Partners, a growth equity investor focused on making investments in companies related to the treatment and management of the world’s water resources, announced today that it has invested in Metron-Farnier which offers a line of high performance residential and commercial water meters augmented with smart meter technologies.
With installations throughout the United States, Metron-Farnier smart metering solutions are preferred by utilities due to their ease of installation, accuracy, superior low-flow performance, and strategic partnership with Verizon Wireless®. This enables the development of cellular based automated metering networks without the need for costly infrastructure. The Company also provides sub-metering services to multi-residential applications with a strong value proposition allowing customers to access and manage their water consumption and identify losses and inefficiencies in their system.
Metron-Farnier commercial meters are the preferred solution of many of the largest utilities in the country due to their long-term accuracy, proven track record, and minimal maintenance.
Metron-Farnier meters store usage data in high resolution and send the data through the Verizon Wireless® LTE Cat M1 network to Waterscope, the Company’s widely acclaimed, user-friendly portal that delivers timely information on water usage far beyond billing data and volume consumption. The advanced analytics capabilities of Waterscope allows users to identify water consumption patterns, uses of water, and can be used for a variety of programs such as water conservation, meter sizing, time-of-use studies and flowrate analysis. Best of all, the whole system is “plug and play”, utilities install the Metron-Farnier meters and the next day they are analyzing the water usage from their computer or cell phone.
“We are a rapidly growing company due to our unique product offerings including our high-performance meters with embedded cellular AMI, and the Waterscope portal,” said Matt Laird,
CEO of Metron-Farnier. “XPV is the right partner for us because of their deep domain experience and connections in the global water industry and their ability to help us scale our business to meet market demand.”
“We are excited to partner with Matt and his team and jointly realize on their vision,” said Khalil Maalouf, Partner, XPV Water Partners. “The Company possesses all the attributes in terms of product differentiation, installed base and drive that we were looking for in an AMI technology company.”
About XPV Water Partners
XPV Water Partners is comprised of experienced water entrepreneurs, operators, and investment professionals dedicated to make a difference in the water industry. XPV invests in and actively supports water-focused companies to enable them to grow and deliver value for all stakeholders. XPV manages over $400 million USD in investment capital from institutional investors in North America, Europe and Asia. For more information, visit www.xpvwaterpartners.com.
For nearly 30 years, Metron-Farnier has worked with a variety of municipal, commercial and industrial customers to better manage aging water infrastructure challenges. Through the innovative combination of proven metering solutions with smart water technologies and partners such as Verizon Wireless®, we enable our customers to adopt smart city solutions and data-driven insights that drive efficiency and improve customer service. For more information, visit www.metronfarnier.com.
For more information please contact:
XPV Water Partners
Phone: 1-416-864-0475 ex 306
Contact: Esther Doss – Director of Communications