Acquisitions in Hawaii in 2020

Hawaiian Cool Water, LLC (HCW), a Honolulu-based provider of water filtration and purification systems, has acquired AAA BestWater Co., Oahu's oldest and largest residential water filtration and softener company. The acquisition expands HCW's business into whole-home residential water treatment as the sellers, Dennis and Suzy Betsinger, retire.

VPLS, a global cloud-to-edge computing and solutions provider, has acquired ZR Systems, a managed IT services firm based in Aiea, Hawaii. The acquisition expands VPLS's data center footprint into Hawaii and broadens its onsite support, cloud, colocation and managed security offerings for local small businesses and growing enterprises.

Hawaii American Water acquired the assets and operations of Waimea Wastewater Company, becoming the wastewater service provider for approximately 217 residential and commercial connections, including North Hawaii Community Hospital and the Parker Ranch Center. Waimea Wastewater was a wholly owned subsidiary of Parker Ranch; the acquisition expands Hawaii American Water’s regulated service footprint on the Big Island of Hawaii (Hawaii American Water is a regional subsidiary of publicly traded American Water).

Tampa-based strategic acquirer Revolent Capital Solutions has recapitalized Armstrong Building Maintenance, a family-owned commercial janitorial and building maintenance company headquartered in Honolulu, Hawaii. Tom Tokars will remain active in leadership while Revolent provides capital and operating support to grow the business and expand capabilities amid heightened demand for enhanced cleaning and disinfection services.

Boardriders, Inc. sold its Xcel wetsuit brand to Colorado-based ZG Collective as part of a portfolio rationalization to focus investment on its six primary global brands and multi-year growth initiatives. The divestment, announced March 17, 2020, was described by Boardriders as aligning with its strategy to fund digital transformation, category extensions and sustainability programs; ROTH Capital Partners and K&L Gates advised Boardriders.

GI Partners, a private investment firm, acquired a majority interest in DR Fortress, LLC, Hawaii's largest carrier‑neutral data center, in partnership with DR Fortress' management team including co‑founders Fred Rodi and Rosa White. The investment is intended to accelerate growth, increase resiliency, and expand relationships with global cloud and content providers while maintaining local engagement in Hawaii and the broader Pacific region.