Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, First Water Systems, Inc (First Water Systems), headquartered in Atlanta, Georgia by HydroLogic, LLC (HydroLogic), headquartered in Asheville, North Carolina. The transaction closed on June 30, 2013. Terms of the transaction were not disclosed.
Founded in 2005, First Water Systems is the owner of several patents and manufactures and markets a line of proprietary mobile water purification systems. All the First Water Systems products are certified to meet or exceed U.S. EPA and NSF quality requirements for both civilian and Department of Defense uses. The Company serves mid-sized markets requiring mobile water purification systems including hospitals, universities, government and nongovernment emergency management organizations, various branches of the US military, commercial, public health and fire protection agencies.
First Water Systems, Inc., President, Steve Flaim stated, "My brother Tom and I are very excited to be part of the HydroLogic team. With this acquisition, we see the ability to combine our present skill sets and experiences with those of Tom Barr and Gary Kabot. Together, we are looking forward to building a great company that acquires, develops and promotes water technologies around the world." HydroLogic, was formed as a parent holding company in June of 2013 to engage in a strategic acquisition program aimed at addressing the "global water crisis" while capitalizing on the numerous opportunities presented in the global water and wastewater technology industries. Managing Directors, Don Sawyer, VP, Julie Sandoval, and their Georgia representative, Loren Schmerler led the Generational Equity deal team that advised First Water Systems on the transaction. According to Loren Schmerler, "HydroLogic, LLC will not only be a highly profitable company within the United States, but the four principal owners have immense hearts and a desire to help third world communities suffering from a serious lack of fresh drinking water."
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