Contact Information: Media Contact: For Altus Capital Partners Rosalia Scampoli Marketcom 212-537-5177 ext. 7
Aqua-Chem, Inc. Acquires Product Lines and Other Assets of Matrix Utilities, Inc.
| Source: Aqua-Chem, Inc.
KNOXVILLE, TN--(Marketwire - October 27, 2008) -
Aqua-Chem, Inc., a leading supplier of water purification systems to
the offshore oil and gas, pharmaceutical, beverage and military markets,
today announced it has acquired the product lines and certain other assets
of Matrix Utilities, Inc., a leader in reverse osmosis desalination systems
for marine and land-based applications. Altus Capital Partners,
Aqua-Chem's largest investor, advised on the transaction. Terms of the
transaction were not disclosed.
"Aqua-Chem is already a leading supplier of vapor compression and waste
heat distillation water purification systems," said Russell J. Greenberg,
Managing Partner of Altus Capital. "With the addition of the Matrix
products and staff, Aqua-Chem has become a leading provider of a full range
of seawater purification systems. We see significant growth potential in
this important line extension, which complements our existing product
line-up, and we will continue to work closely with the Aqua-Chem management
team as they continue to implement the company's growth strategy."
David Gensterblum, Aqua-Chem's President and CEO, said, "With the
integration of Matrix into our organization, our customers will benefit
from both the expansion of our great family of products and the addition of
a terrific group of highly skilled and knowledgeable people. At the same
time, we are fully committed to meeting the needs of existing Matrix
customers. We welcome the Matrix sales and customer support team to
Aqua-Chem."
Matrix, based in Fort Lauderdale, Florida, offers a full range of seawater
and brackish water reverse osmosis systems rated from 2 tons per day to
over 1,000 tons per day. Matrix has been in business for more than 22
years and has existing offshore oil and gas, shipboard and land-based
installations and references in over 100 countries and all 7 continents.
Aqua-Chem will continue to operate its new product lines in Fort Lauderdale
with the same staff and manufacturing facilities.
About Aqua-Chem, Inc.
Since 1940, Aqua-Chem has become a leader in evaporation and reverse
osmosis technologies and water pretreatment equipment, with a full array of
engineering, manufacturing, installation, training and maintenance
services. The company serves the needs of customers in the following major
markets: offshore oil and gas, commercial marine, pharmaceutical, beverage
and military markets. Aqua-Chem is based in Knoxville, TN and sells its
products in more than 100 countries around the world. For more
information, please call (865) 544-2065 or go to www.aqua-chem.com.
About Altus Capital Partners LLC
Based in Westport, CT, Altus Capital Partners is a private equity firm that
creates value by purchasing and growing profitable small to middle market
manufacturing businesses with unrealized potential. Altus is led by a
proven, seasoned deal-making team of high integrity that invests alongside
management to help seize their current growth opportunities through due
diligence and leadership in long-term strategic thinking. With over 50
years of investment experience, the Altus team utilizes its extensive
knowledge of the private equity cycle to optimize company value through
structured buyouts,
recapitalizations, consolidations and divestitures. Altus' investment
strategy builds businesses, fosters company loyalty and creates shareholder
value. Website: www.altuscapitalpartners.com.