Mason Wells Announces the Sale of Aquion, Inc.
For more information, contact: Thomas G. Smith, 414-727-6416; Damon Thome, 414-727-6406
MILWAUKEE, WI (February 14, 2019) – Mason Wells announced the closing of the sale of Aquion, Inc. (“Aquion” or the “Company”), a Mason Wells Buyout Fund III, LP portfolio company, to Pentair plc (“Pentair”). The transaction closed on February 13, 2019, at a $160 million transaction value, subject to customary adjustments.
Based in Roselle, Illinois, Aquion is a leading manufacturer and marketer of premium water treatment equipment and water quality solutions that serve a variety of markets around the world. Mason Wells invested in Aquion, Inc. in December 2013 as part of a targeted search for investment opportunities in the water treatment industry.
“Aquion is a tremendous company led by one of the industry’s best management teams,” said Tom Smith, Executive Managing Director of Mason Wells. “During our ownership of the Company over the past five years, the Company established itself as a leader through sales channel and geographic expansion, product innovation, and operational excellence. We have been fortunate to partner with such a passionate and talented management team who has the business poised for continued success well into the future.”
Aquion was advised by Robert W. Baird and Quarles & Brady served as legal counsel.
About Aquion: Aquion is a leading manufacturer and marketer of premium water treatment equipment and water quality solutions that serve a variety of markets around the world. Headquartered outside of Chicago, Aquion has approximately 170 employees across three facilities located in the United States and Belgium and has been manufacturing water treatment equipment since 1953. Aquion offers a diverse line of water conditioners and softeners, carbon filters and filtration systems, reverse osmosis systems, and ozone and ultraviolet disinfection systems for the residential and commercial water treatment industry. Aquion’s residential brands include RainSoft and Erie Water Treatment, and its commercial brands include OptiPure and ClearWater Tech. For more information, please visit the Company's website at www.aquion.com.
About Mason Wells: Mason Wells is a leading Midwest-based private equity firm with approximately $1.0 billion in assets under management across its current private equity funds. Mason Wells is currently investing out of Mason Wells Buyout Fund IV, a $615 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Consumer Packaged Goods, Outsourced Business Services, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.