WEST
PALM BEACH, Fla., July 17,
2024 /PRNewswire/ -- Workdry International
("Workdry"), the parent company of engineered pump rental solutions
and wastewater treatment asset rental providers Selwood,
Siltbuster, and Vanderkamp, has announced a strategic expansion
into the North American market through the acquisition of Holland
Pump Company ("HPC") a regional market-leading water handling and
pump rental services provider in the
United States.
The deal is backed by independent fund manager Arcus
Infrastructure Partners ("Arcus"), through Arcus European
Infrastructure Fund 3 ("AEIF3") as Workdry's majority shareholder.
The acquisition will see Workdry immediately establish a
market-leading presence in the East and Gulf Coast regions of the
US, strengthening the combined group's offering to the
infrastructure, construction, municipal, and manufacturing
sectors.
Workdry is acquiring the Florida-based business from a shareholder
group led by XPV Water Partners. Since taking ownership in 2019, it
has supported a series of strategic acquisitions to grow Holland
Pump into one of the largest pure-play pump rental and service
providers in the US, with over 1,000 pump assets, across 15
locations, and over 120 employees.
The company has a diversified and long-standing customer base,
with its core end markets including municipal water infrastructure,
core industrial segments, and broader transport infrastructure
across its geographical footprint. HPC has a strong family and
entrepreneurial heritage, with the founding family still active in
the business, which aligns with Workdry's history as a family
business founded in the UK in 1946.
This move aligns with Workdry's strategic expansion goals and
follows its acquisition of the leading Dutch engineered pump rental
solutions business, Vanderkamp Group, announced earlier this year.
It establishes Workdry as a formidable player in engineered pump
rental solutions on a global scale. Workdry plans to support the
existing HPC management team, operating as the North American
division of Workdry, in pursuing a high-growth strategy in its core
markets, expanding through organic pump rental solutions growth,
further M&A and leveraging its base of operations and Workdry's
expertise and asset solutions to introduce a modular wastewater
treatment offering in the US market.
Holland Pump CEO, Tom Vossman,
will continue to lead the US business, working closely alongside
Workdry's leadership team to integrate best practices and share
expertise across the group. Tom, based in Texas, is an experienced leader in growing
manufacturing, infrastructure and asset rental businesses who has
delivered Holland Pump's strategic plan over the past three years.
He was appointed after XPV acquired Holland Pump from former owner
and President, Win Blodgett.
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.
"I am delighted to welcome Tom and his team into the Workdry
family. Our colleagues already know Holland Pump very well, having
worked with them over many years to supply Selwood equipment to US
customers. We know they share our vision and ambition and have a
similarly strategic and acquisitive approach to growth, along with
a passion for delivering outstanding solutions through exceptional
people.
"Holland Pump brings huge value to the Workdry group, and we are
looking forward to further adding to that value through continued
investment, using our core business expertise, knowledge and
capability to supercharge growth and success on both sides of the
pond."
Tom Vossman, CEO, Holland Pump,
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."
Jordan Cott, Partner at Arcus and
Chair of Workdry, said: "Tom and his management team, together with
the support of XPV and Win Blodgett, have built a hugely successful
market leader in the US. We could not be more pleased that they
have decided to partner with us to accelerate their growth
trajectory through this next chapter.
"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.
"It fits perfectly within the Arcus value-add mid-market
strategy of supporting market-leading businesses like Workdry on
long-term value creation initiatives and builds on our successful
track record of partnering with world-class entrepreneurs and
family businesses."
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."
Selwood, Siltbuster and Vanderkamp currently deliver
rental-based engineered solutions for water handling and wastewater
treatment from 25 sites around the UK and Europe, with a fleet of over 6,000 pump assets
and over 1,000 modular wastewater treatment assets.
Houlihan Lokey Inc. acted as financial advisor to Workdry.
Catalyst Strategic Advisors LLC acted as exclusive financial
adviser to Holland Pump.
For more information about Workdry see www.workdry.com.
Notes to editors
Workdry International delivers market-leading water
handling and treatment solutions through its Selwood, Siltbuster
and Vanderkamp businesses. www.workdry.com
Selwood has a head office and manufacturing facility in
Hampshire, 21 pump rental solutions branches around the UK, and
relationships with a global network of partners and distributors.
www.selwood.co.uk
Siltbuster, based in Monmouth, Wales, operates across the UK as number one
solutions provider for on-site water treatment, wastewater
processing and the prevention of waterborne pollution.
www.siltbuster.co.uk
Vanderkamp has a head office in Zwolle, The Netherlands, and delivers leading
tailor-made temporary pumping solutions all over the world through
state-of-the-art engineering. www.vdkamp.eu
Arcus Infrastructure Partners is an independent fund
manager focused solely on long-term investments in European
infrastructure. Arcus invests on behalf of institutional investors
through discretionary funds and specialist co-investment vehicles
and, through its subsidiaries, currently manages investments with
an aggregate enterprise value of c. €23bn (as of 31 March 2024). Arcus targets mid-market,
value-add infrastructure investments, with a particular focus on
businesses in the digital, transport, logistics & industrials,
and energy sectors. Further information on Arcus Infrastructure
Partners can be found on www.arcusip.com
Holland Pump Company has been a leader in the
manufacture, sale, distribution, rental and service of speciality
pumps and dewatering solutions for over 40 years.
With a relentless focus on customer service and enabling its
customers to complete their projects faster and with less hassle,
Holland Pump has gained a reputation for its expertise in
the United States.
From their headquarters in West Palm
Beach, Holland Pump operates 15 branch operations across
Florida, Louisiana, New
York, Pennsylvania,
Maryland, Texas and South
Carolina.
For more information, visit www.hollandpump.com
XPV Water Partners is a team of experienced
operators and investors who are committed to making a difference in
water. The firm manages investment capital from some of the world's
top institutional investors, and partners with emerging
water-related companies to help them rapidly expand and achieve
their strategic goals.
XPV aims to generate strong, risk-adjusted returns for its
investors by leveraging its trusted ecosystem, deep industry
knowledge and its water centric company scaling platform.
XPV is committed to building partnerships that contribute to
growing people, sustainable businesses, prosperous communities, and
a better planet for everyone.
For more information, visit www.xpvwaterpartners.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/workdry-international-announces-strategic-expansion-into-north-america-with-the-acquisition-of-regional-market-leading-us-pump-rental-specialist-holland-pump-company-302198501.html
SOURCE Holland Pump Company