CHANHASSEN, Minn., March 09, 2020 (GLOBE NEWSWIRE) -- Vessco Holdings today announced that the Company’s Board of Directors has appointed Brian DeWolf as Chief Executive Officer. He is responsible for leadership of the Vessco Holdings platform as it continues its impressive track record of acquiring leading water equipment distribution and services companies. DeWolf, a water industry veteran, has been with the Company and has served as Vessco Inc.’s President since 1999.

“The past two years have been truly outstanding for the Vessco Holdings platform. We have achieved impressive growth by partnering with high quality, like-minded people in our industry. We created the premier water and wastewater technology distribution business through the combination of six leading companies over the course of 2018 and 2019. We have expanded our territories to include 17 states and the District of Columbia. We are in advanced discussions with several future partners as we continue our M&A strategy and consolidate the North American water and wastewater treatment market. The future is exciting, and we feel confident that our success will be extremely beneficial for our loyal customers, employees and manufacturing partners,” said DeWolf.

Vessco, Inc. and its financial partners have pursued a unique M&A strategy that began in 2018 with the combination of Vessco, Inc. and Mellen & Associates, and the formation of Vessco Holdings alongside O2 Investment Partners. The Vessco Holdings platform would go on to complete four additional acquisitions over the course of 2019 expanding its reach from the Midwest to the Northeast and Mid-Atlantic regions. The combined businesses generate approximately $150 million in revenue and provide industry leading equipment sales and services to over 5,000 municipalities and industrial customers.

  • In February 2019, Vessco partnered with Tim Ruesch and Gary McMahon of the Dorner Company serving Wisconsin, Illinois, and the UP of Michigan.

  • In May 2019, Vessco joined forces with Mark Koester and Peter Radosta of Koester and Associates serving New York.

  • In August 2019, Vessco partnered with Bob Fairweather, Ed Zalewski, Pat Foley, and Jon Casarotti of Sherwood Logan and Associates serving Maryland, Virginia, Pennsylvania, New Jersey, Delaware, Connecticut, New York, and the District of Columbia.

  • Finally, in October 2019, on the one-year anniversary of Vessco’s partnership with O2, Vessco combined forces with Bruce Wirth, Lane Stewart, Travis Moran and Ryan Willis of Automatic Systems Company serving Minnesota, Iowa and the surrounding region.

The Company expects to build on this momentum and already has three additional businesses under letter of intent.

Pat Corden, Partner at O2 Investment Partners, noted, “Brian DeWolf and Dick Corbett of Vessco are visionary leaders and together we have built one of the largest water and wastewater distribution businesses in the country. We are lucky to have them as partners and feel that Vessco Holdings represents the best and brightest in the industry. The combination of Vessco, Dorner, Koester, Sherwood Logan and Automatic Systems will allow each business to leverage new growth opportunities to better serve their growing and loyal customer base. We are excited to continue growing the business with our great team.”

About Vessco Holdings:

Vessco is one of the largest equipment distributors and systems integrators of water and wastewater treatment technology in the United States. Vessco offers its customers an exceptional breadth of products and services with its line card of valued vendors. With coverage in over 17 states throughout the Central U.S., Midwest, Northeast and Mid-Atlantic regions, Vessco employs a workforce of approximately 170 employees.

About O2 Investment Partners:

O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select niche industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management.

Additional information is available at: www.o2investment.com ; www.vesscoholdings.com

Pat Corden, Partner, O2 Investment Partners (pcorden@o2investment.com)