Behrman Capital Acquires Waterline Renewal Technologies

Waterline Renewal Technologies Acquires Pipe Lining Supply

November 2, 2021

Industrial Services

Waterline Renewal Technologies, a portfolio company of Behrman Capital, has acquired Pipe Lining Supply, a national supplier of cured-in-place pipe (CIPP) lateral lining and DWV sewer rehabilitation materials and equipment. The add-on acquisition expands Waterline's trenchless pipeline rehabilitation product and distribution capabilities in North America; financial terms were not disclosed and Adams Street Partners provided debt financing.

Azuria Water Solutions (New Mountain) Acquires Waterline Renewal Technologies from Behrman Capital

February 27, 2026

Environmental Services

Azuria Water Solutions, a New Mountain Capital portfolio company, has acquired Waterline Renewal Technologies from Behrman Capital. Financial terms were not disclosed; Waterline is headquartered in Ottawa, Illinois and provides engineered products and services for trenchless rehabilitation of wastewater and stormwater infrastructure.

Integrated Water Services Acquires Hi-Line Industries

November 5, 2024

Manufacturing

Integrated Water Services, Inc. (IWS), a Sciens Water-backed water and wastewater treatment platform, has acquired Hi-Line Industries, a Brenham, Texas-based designer and manufacturer of custom-fabricated equipment. The deal vertically integrates Hi-Line's fabrication and CNC capabilities into IWS to support its modular MBR systems (including the BluBox) and broaden manufacturing capacity for future product and acquisition support.

Water Engineering (Nolan Capital Portfolio) Acquires American Water Treatment, Inc.

July 13, 2022

Environmental Services

Water Engineering, a portfolio company of Nolan Capital, has acquired American Water Treatment, a family-owned water treatment services provider headquartered in St. Louis, Missouri. The acquisition adds American Water’s ~900-customer, multi-state footprint to the WEI platform as an add-on to expand geographic coverage and service capabilities while retaining the existing team and legacy brand.

Nolan Capital Acquires Majority Stake in Water Engineering, Inc.

March 21, 2022

Industrial Services

Nolan Capital, the family office of Peter Nolan, has acquired a majority stake in Water Engineering, Inc., a Omaha-based provider of industrial water treatment solutions, chemicals and services. Nolan Capital’s Southern California portfolio company, Apollo Technologies, will join the combined Water Engineering platform as the investor and management team intend to pursue further acquisitions to build a national water treatment platform.

Levine Leichtman Capital Partners Acquires USA Water

February 22, 2024

Utilities

Levine Leichtman Capital Partners (LLCP) has acquired USA Water from Warren Equity Partners, with management reinvesting and continuing to lead the company. Headquartered in Rosenberg, Texas, USA Water provides operations and maintenance (O&M) services for water and wastewater systems across the Southeast United States; LLCP plans to broaden its service capabilities and geographic footprint through organic growth and strategic acquisitions.