O2 Investment Partners Announces Sale of Portfolio Company Vessco Holdings to Gryphon Investors
November 2020
Bloomfield Hills, Michigan
O2 Investment Partners (“O2” or the “Firm”) is pleased to announce the recent sale of its portfolio company, Vessco Holdings (“Vessco” or the “Company”) to Gryphon Investors (“Gryphon”).
Vessco is a premier, value-added specialty distributor that provides a comprehensive set of products and services to the water and wastewater treatment market. Vessco is a one-of-a-kind platform and provides end-to-end customer solutions, ranging from initial project identification and design consultation to ongoing aftermarket services.
During O2’s two-year ownership period, O2 and management were able to grow the Company through a combination of organic and inorganic growth initiatives, leading to substantial value creation for investors and partners in management. Vessco completed and integrated five add-on acquisitions, diversifying the Company’s product and service offerings across four market segments while significantly enhancing geographic reach. Vessco is now the consolidator of choice and clear leader in the municipal water and waste-water treatment distribution market.
“We are grateful to have had the opportunity to partner with Brian DeWolf and the excellent team at Vessco. We shared a vision to create an industry-leading business with an emphasis on culture and teamwork. The people at Vessco are best-in-class at every level of the organization, and it was a privilege to work together,” said Pat Corden, a Partner with O2.
“Our relationship with the O2 group has been outstanding. They worked very closely with our team and were instrumental in executing our model and exceeding our growth expectations,” said Brian DeWolf, CEO of Vessco. “We are very excited to have partnered with the Gryphon team as we continue to grow the Vessco Holdings family of companies.”
William Blair served as exclusive financial advisor to Vessco Holdings. Honigman provided legal counsel to O2 Investment Partners, and Peter Klein, P.A. provided legal counsel to Vessco Holdings management.
About Vessco Holdings:
Vessco (www.vesscoholdings.com) is one of the largest equipment distributors and systems integrators of water and wastewater treatment technology in the United States. Vessco offers its customers an exceptional breadth of products and services with its line card of valued vendors. Vessco provides its products and services in over 18 states throughout the Central U.S., Midwest, Northeast, and Mid-Atlantic regions.
About O2 Investment Partners:
O2 Investment Partners is a Midwest-based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select niche industrial companies. The Firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. Additional information is available at www.o2investment.com
Contact:
Pat Corden
O2 Investment Partners, LLC