Jefferson River Capital ("JRC"), a New York-based PE firm, announced today that it has invested in Innovative Treatment Products, Inc. ("ITP" or "the Company”). On the investment, JRC commented that “ITP’s management team has applied their decades of experience in the industry to develop a distinctive, customer-centric solution to wastewater treatment with its miniMBR® technology. ITP effectively blends reliability, cost, and treatment quality to deliver the best value possible to its customers.”
Based in Owings Mills, Maryland, ITP has been developing, marketing and delivering a unique and value-added water treatment technology, the miniMBR®, since 2012. ITP’s management team, led by Founder and CEO Rob Kershner, will continue to manage the business and remain majority owner of the Company. A seasoned executive with over 34 years of experience in the water and wastewater sectors, Mr. Kershner has worked as a consulting engineer during his career and founded Kershner Environmental Technologies, LLC (KET) 20 years ago. KET is a successful water & wastewater process technology firm based in the mid-Atlantic region. Longtime industry executive Chris Sinelli, P.E., J.D., and MBA is the Chief Financial Officer of the Company.
Originally conceived to meet the stringent effluent nutrient limits in the Chesapeake Bay watershed, the miniMBR® process addresses the limitations and problems experienced with the use of conventional wastewater technologies for small flow decentralized communities and developments. Small flow MBR wastewater treatment plants face unique challenges with respect to achieving low energy consumption and efficient nitrogen removal and the miniMBR® surpasses the capabilities of those conventional systems. Additionally, ITP’s use of advanced ultrafiltration membranes enables miniMBR® aquaMINE™ plants to compete favorably in water reuse applications for arid regions such as California including the Built Environment.
ITP’s successful organic growth in the Chesapeake Bay region and beyond with more than a dozen reference sites led to the attention of Jefferson River’s investment team who are building sustainable technology companies into their portfolio. Rob Kershner is excited to have a committed partner such as JRC join his company. Their interest in energy efficient and sustainable technologies and a long-term view of the business relationship is exactly what he was looking for in a private equity partner. Hamilton James and Kenneth Brown will join ITP as Board Members and will assist in the next phase of growth and market expansion across North America.