European water solutions firm Workdry International, backed by Arcus Infrastructure Partners, has entered North America by acquiring US pump rental company Holland Pump Company (HPC).
Arcus through its third fund Arcus Infrastructure Partners has backed Workdry to invest an undisclosed sum buy the Florida-based business from a shareholder group led by XPV Water Partner. Holland Pump CEO, Tom Vossman, will continue to lead the US business.
Arcus Infrastructure Fund 3 acquired an 83% stake in Workdry in September 2022, partnering with the Bright family and management team.
Workdry already operates in Europe through its engineered pump rental solutions and wastewater treatment asset rental providers Selwood, Siltbuster and Vanderkamp.
The acquisition of HPC is expected to establish Workdry with a leading market presence in the Eastern and Gulf Coast regions of the US, “strengthening the combined group’s offering to the infrastructure, construction, municipal, and manufacturing sectors”.
Dan Lee, group CEO of Workdry International, said: “Our acquisition of Holland Pump brings a well-established and respected business into our group, providing us with a strong entry point into North America which is the largest pump rental market in the world.”
Jordan Cott, partner at Arcus and chair of Workdry, said: “This acquisition continues Workdry’s impressive growth trajectory and opens new exciting opportunities in North America as Workdry continues to expand its mission-critical, rental-based solutions offering to support the maintenance, expansion, and delivery of sustainable water and wastewater infrastructure globally.
“We will be able to leverage our core rental proposition, including global market-leading engineering expertise and asset innovation, to significantly expand and strengthen HPC’s offering in the US and deepen its relationships with its valued long-standing customers.”
Vossman said: “We are excited to join the Workdry organisation. It’s clear we share a common vision for growth and expanding both our footprint and service offering looking into the future. I am very confident this will be a great combination of businesses to grow a global platform with the Workdry team.”
Sam Saintonge, investment partner with XPV Water Partners, said: “We are proud of the growth and success Holland Pump has had over the last several years.
“We are also thrilled to see the company and its team land with Workdry, an organisation with great support from Arcus that we have been very impressed with throughout the process.”
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