Alpine Investors Launches Water Services Vertical, Axia Water – And Announces Inaugural Partnership with Madera Pumps
March 29 2023 - 9:30AM
Business Wire
Alpine Investors, a people-driven private equity firm, today
announced the launch of Axia Water (“Axia”), its newly formed water
services business. In conjunction with the launch, Axia announced
an inaugural partnership with Madera Pumps (“Madera”), a provider
of water well and pump services in California’s Central Valley.
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As Alpine’s dedicated water services vertical, Axia will focus
on partnering with established water businesses across the country
to support and scale their offerings while preserving their
independence and culture. Axia will sit within AlpineX, Alpine’s
market-leading business services platform, and Amanda Neilson will
serve as Axia’s CEO.
The water services industry provides access to a critical,
non-discretionary resource for agricultural organizations,
municipalities, industrial operators and private homes across the
United States. While a necessity, running a water service company
can be challenging – from navigating different hydrological and
climate conditions, to repairing infrastructure, to adapting to
ever-changing regional and national regulations. In addition to
operational complexities, the water services industry suffers from
significant underinvestment in technology and job training for the
next generation. Axia has the industry knowledge and resources to
maneuver these challenges and take these great businesses to the
next level. By partnering with Axia, companies will have access to
additional capital for organic and inorganic growth, technology and
infrastructure investments (e.g., new crews and rigs), better asset
utilization, world-class recruiting and sales and marketing
efforts.
For over 45 years, Madera Pumps has provided full-service pump
and well services in the Central Valley of California. Founded in
1977, Madera’s services include pump testing, data analysis,
capacity and well yield, video surveying, well rehabilitation and
repair. Madera’s unique focus on well rehabilitation differentiates
and benefits the business, especially since the 2014 passage of
California’s Sustainability Ground Water Act (SGMA) which limits
the drilling of new wells. The business is led by co-partners, Matt
Angell and Trisha Tolbert.
“We are excited to launch Axia through our partnership with the
Madera team, who have built an outstanding water services company,
which has benefited thousands of customers for decades across the
Central Valley,” said Amanda Neilson, CEO of Axia Water. “Axia
brings the benefits of a large company to entrepreneurial water
services businesses, while Madera and well-established companies
like it will continue to operate independently. Together, we have a
unique opportunity to transform the water services sector, attract
new talent and harness growth opportunities for this essential
environmental service.”
“We are thrilled to enter our next stage of growth through our
partnership with Amanda and the Axia team. Axia and Madera share
the same mission of guaranteeing reliable access to water for
growers, farmers, cities and local residents,” said Matt Angell and
Trisha Tolbert, co-partners at Madera Pumps. “As a local one-stop
service provider for all pump and well needs, we are excited and
confident about this partnership and the future of Madera, its
team, and our community.”
In addition to the partnership with Madera, Axia is actively
seeking additional partnerships with strong regional water service
companies. Axia is particularly interested in partnering with
companies providing access to and service of groundwater resources
to agricultural customers, municipalities, industrial operators and
private homes across the United States. Terms of the private
transaction were not disclosed. Madera Pumps will continue to
operate independently under its existing brand.
About Axia Water
Backed by Alpine Investors, a people-driven private equity firm,
Axia Water brings the benefits of a large company to
entrepreneurial water services business owners, while preserving
their independence and unique company culture. Axia helps water
services businesses to reach their ultimate goals of entering a new
era of growth, access technological advancements, offer rewarding
careers, benefit from shared resources and cultivate a positive
work culture. Axia is actively seeking partnerships with water
services businesses that typically have between $8 to $40 million
in revenue and are looking to enter into their next chapter of
growth. For more information, visit Axia Water’s website at
www.axiawater.com.
About Madera Pumps
Founded in 1977, Madera Pumps is a full-service pump and well
services provider that serves farming operations, municipalities,
domestic homes and Irrigation Districts in the Central Valley of
California. Madera’s services include pump testing, data analysis,
capacity and well yield, video surveying, well rehabilitation and
repair. For more information, visit Madera Pump’s website at
www.maderapumps.com.
About AlpineX
AlpineX is an investment platform focused on lower middle-market
services businesses. AlpineX invests in verticals acquiring
asset-light services companies with durable customer value
propositions, high-quality revenue, and attractive markets. We are
actively seeking industry ideas with initial deals between $2m-$7m
in EBITDA, as well as add-on acquisitions for our existing
operating companies in professional education, training,
certification and water services. For more information, visit
www.alpinex.net.
About Alpine Investors
Alpine Investors is a people-driven private equity firm that is
committed to building enduring companies by working with, learning
from, and developing exceptional people. Alpine specializes in
investments in companies in the software and services industries.
Its PeopleFirst strategy includes a talent program that allows
Alpine to bring leadership to situations where additional or new
management is needed post-transaction Alpine has over $11B in
assets under management as of December 31st, 2022, and has three
offices in San Francisco, New York, and Salt Lake City . For more
information, visit www.alpineinvestors.com.
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Audrey Harris Head of Marketing aharris@alpineinvestors.com