The Evoqua Water Technologies Board of Directors has named AEA Investors LP Operating Partner Gary Cappeline interim CEO and Mark Roos, formerly CFO of Unifrax LLC, previously an AEA portfolio company, interim CFO.
Former Evoqua CEO Dr. Lukas Loeffler has left the company and as determined in December 2013, CFO Mirko Schueppel will leave Mar. 31. The Board will begin an immediate search for their replacements.
AEA, a leading private equity partner to middle market companies with more than 45 years of investing experience, acquired Siemens Water Technologies, a leading water and wastewater treatment provider, on Jan. 15, 2014 and renamed the company Evoqua Water Technologies.
“The Board and AEA are committed to maximizing the industry-leading talent, expertise and resources of Evoqua. To realize the company’s full future growth potential in its next chapter, the Board agreed that moving forward new leadership would be helpful to the organization,” said Evoqua Board Chairman Martin Lamb.
“The Board wishes to recognize the many contributions that Dr. Loeffler made in integrating the Water Technologies business and preparing it for carve-out and divestiture. We thank him and wish him continued success,” Lamb said.
“Evoqua is reaffirming its focus on customers by delivering value-adding legacy brand products, innovative technologies and responsive services,” Cappeline said. “I look forward to working with our team to further enhance our customers’ success and satisfaction.”
Interim CEO Cappeline, formerly president and COO of Ashland Inc., is a chemical engineer and has extensive water and industry vertical experience. He joined AEA in 2007 and has been involved with Evoqua since June 2013 as AEA’s due diligence co-lead.
Interim CFO Roos previously was CFO of Unifrax, an industrial technology company carved out from British Petroleum in 1996 that grew by five times during the subsequent years.
Evoqua provides water and wastewater treatment equipment and services for industrial, marine and municipal customers. The company’s history can be traced back more than a century through legacy brands such as Wallace & Tiernan, Ionpure and USFilter.
About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 highly successful business executives, industrial families and former government leaders. Today, AEA’s over 65 investment professionals operate globally with offices in New York, Connecticut, London, Munich, Hong Kong and Shanghai. The firm manages funds that have $6B of invested and committed capital including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer products/retail and services.
About Evoqua Water Technologies LLC
Evoqua Water Technologies, formerly Siemens Water Technologies, is a leader in water and wastewater treatment products, systems and services for industrial, marine and municipal customers. Its comprehensive, cost-effective and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. For more information, visit www.evoqua.com.
SOURCE: Evoqua Water Technologies