Dow Jones/LBO Wire featured Altus Capital Partners' backing of Aqua-Chem's acquisition of SPECIFIC equipment company.
This leading private equity publication highlighted Altus portfolio company Aqua-Chem’s acquisition of fluid handling systems maker Specific Equipment Company, Aqua-Chem’s second add-on acquisition in less than two years. The deal was funded by the internal cash flow of Aqua-Chem and was negotiated directly by Altus and Aqua-Chem with Specific’s management. Altus’ Greg Greenberg was quoted as stating that the deal will help Aqua-Chem, which serves customers in more than 100 countries, expand into Mexico and South America. As previously reported by Dow Jones/LBO Wire in 2008, Aqua-Chem bought Matrix Utilities Corp. for less than $15 million and Greenberg stated that the company has seen double digit growth through the recession, and has grown through “a number of international initiatives” such as expanding its reach in Eastern Europe.