PRESS RELEASE: Ground/Water Treatment & Technology, LLC Breaks Away from Parent Company to Form Fully Independent Environmental Contracting and Water Treatment Company with Investment From Hudson Ferry Capital
New Jersey – December 31, 2013 – GWTT is pleased to announce that Hudson Ferry Capital has supported the management team in the acquisition of the assets of Ground/Water Treatment & Technology, Inc. This investment transforms GWTT from a subsidiary of Moretrench American into a fully independent environmental contracting and water treatment company.
“We are proud to have been selected by this dedicated management team as a partner to build upon GWTT’s impeccable reputation for safety, service, performance and innovation. We see substantial opportunities to broaden GWTT’s service offering into adjacent market segments,” said HFC Partner Timothy Ross.
“We were seeking a financial partner to provide capital and expertise to assist us with our growth plans. The partners at Hudson Ferry Capital have a long track record of working with entrepreneurial companies and assisting them to achieve the next level of success,” said Robert Kunzel, President and Chief Executive Officer of GWTT.
“I’m pleased to see GWTT establish itself as a standalone business and to remain involved with GWTT as a member of its board of directors. Given GWTT’s long history as a member of the Moretrench family, we look forward to continue partnering on future endeavors,” said Arthur Corwin, President and Chief Executive Officer of Moretrench.
GWTT was founded in 1996 and has been engaged in the delivery of hundreds of groundwater treatment plants and other treatment systems throughout North America. In calendar year 2012, GWTT treated 16 billion gallons (which is more than 31,000 GPM) of wastewater at hundreds of project sites throughout North America. GWTT will continue to operate and focus on delivering the same level of service that it has always delivered.
For GWTT, the vision remains the same: delivering a turn-key accountable service to its customers, providing a safe, professional atmosphere for its employees and continuing good working relationships with its vendors.
This investment also marks the promotion of Robert Kunzel, the founder of GWTT, to President and Chief Executive Officer. In this role, he will be responsible for the day to day operations of the company. Matthew Phillips, Vice President of GWTT will continue to remain focused on business development and corporate growth strategies.
The remainder of the management team, including Ken Kauffman, Division Manager of Construction; John Balla, Division Manager of Equipment Rentals; Richard Worthington, Division Manager of Operation/Optimization and Maintenance (O/O&M); Joe Landyn, New England Regional Manager; Robert Moore, Mid-Atlantic Regional Manager; Scott Anderson, Southeast Regional Manager; Robert Orlando, Chief Engineer; Craig Sofio, Shop Manager and Bryan Lamphear, Controller will continue in their current roles.
GWTT (www.gwttllc.com) partners with many clients who are seeking a provider that takes 100% accountability to reduce cost while ensuring all on-site Environmental, Health & Safety and effluent discharge criteria is achieved. Through this approach, GWTT’s clients are able to remain focused on their core operational and business issues and their overall strategic roadmap.
With a strong focus on supporting Environmental Consultants, General Industry, Chem/Pharma, Utilities, and Oil & Gas market sectors, GWTT’s service portfolio is founded on the basic principle of delivering innovative, value-based solutions that are performance-driven.
GWTT’s portfolio of services is delivered through four operating divisions; Remediation Equipment, Construction and Refurbishment, Equipment Rental and Operation/Optimization and Maintenance (O/O&M) Services. Through this portfolio of services, a turnkey accountable offering is delivered.
About Hudson Ferry Capital
Hudson Ferry Capital (www.hudsonferry.com) is a New York – based private equity firm that specializes in investing in lower middle market companies. The firm partners with entrepreneurial owners and managers of established privately owned companies that are differentiated through product or process innovation.
For more information about this transaction, please contact:
Robert Kunzel Timothy Ross
President and Chief Executive Officer (CEO) Partner
GWTT Operating Company LLC Hudson Ferry Capital
Phone (973) 983 0901 Phone (212) 308 3079