Portfolio Details

Cleanwater1

---

Cleanwater1 is a leading provider of water and wastewater quality management solutions, chemical feed systems and gas phase filtration technologies to the municipal utility and industrial markets. 

Baird Capital invested in Cleanwater1 in 2022 . A number of characteristics attracted us to invest in the business, including: 

• Market leader in a growing market – Cleanwater1 is a leading solution provider, with branded solutions and an IP portfolio designed to address water quality issues throughout the  wastewater quality and water treatment & distribution system.  Increasing adoption of these solutions is driven by strong macro-trends including  aging infrastructure, supply chain resiliency, climate change, increasing population density and water scarcity.
• Resilient revenue with strong barriers to entry – Cleanwater1 is an established, specified provider in the difficult-to-penetrate municipal water / wastewater market, with high repeat customer revenue.  A large portion of revenue is consistently derived from recurring parts / services and standard product sales to the company’s installed base.
• Scaled business in a fragmented market – While a leader in its categories, the served market opportunity within the municipal water and wastewater is  very large and represents an attractive opportunity to increase the addressable market via increased adoption and movement into adjacent solutions.

Since our investment, Cleanwater1 has completed four add-on acquisitions, adding complementary products from highly respected brands and significantly expanding the company’s scope: 

Velodyne is a founder-owned provider of polymer  activation and control technology solutions and silo / conveyance systems to the  water and wastewater industry.

Integrity Municipal Systems is a founder-owned provider of water treatment solutions, including lime systems, chemical feed and scrubber / odor control systems to the water and wastewater industry.

Industrial Control Systems Online is a founder-owned provider of industrial automation, control and SCADA solutions, primarily serving the water / wastewater markets.

Pure Air Filtration is a founder-owned provider of gas phase treatment solutions and customized filtration media for the  water and wastewater industry.

---

Learn more about the company