Backcast Partners Supports Strategic Growth of World Water Works with Customized Capital Investment
Backcast Partners (“Backcast”), a leading provider of debt and equity capital for middle-market companies, is pleased to announce its strategic investment in World Water Works ( “WWW”), supporting the growth investment led by Chartwell Investments Entrepreneur & Founder Capital (“CHIEF Capital”), an established independent sponsor with a history of successful transactions.
Headquartered in Oklahoma City and founded in 1998, WWW is a mission-critical partner to industrial and municipal clients worldwide that seek to improve their communities through implementing advanced, cost-effective, preeminent water and wastewater treatment solutions. The Company focuses on operational and technological excellence, utilizing a design philosophy that emphasizes performance, flexibility and durability, to yield superior water quality at the lowest life-cycle costs. WWW’s team of passionate water professionals develop expertly engineered products, solutions, and services with a uniquely customer-centric approach. WWW is steadfast in its commitment to our planet’s most vital resource and in Solving Today’s Water Challenges for a Better Tomorrow.
Prashant Mitta, CEO of World Water Works, said, “We are excited to partner with CHIEF Capital and Backcast Partners which have a great track record of supporting growing companies. They share the vision of making WWW an unparalleled, best-in-class water and wastewater solutions company, with a focus on exceptional customer service. CHIEF Capital and Backcast Partners will continue to support our growth as we develop cutting edge solutions for industrial and municipal businesses that will bolster businesses and communities while being efficient and responsible.”
Michael Shein, Chartwell’s Managing Partner, said, “Our relationship with Backcast and their principals’ dates back more than 25 years and through numerous economic cycles. The team consistently shows capital structure innovation, the ability to execute on complex opportunities, and is especially reliable with both growth situations and buy and build strategies”.
Mark Gudis, Managing Partner at Backcast, added, “Our senior secured debt and preferred equity investment in WWW reflects our confidence in the Company’s leading-edge technologies, strong macro tailwinds requiring significant investment earmarked for wastewater infrastructure improvement, a deep and committed senior leadership team, and our confidence in CHIEF Capital as a reliable partner.”
Backcast was represented in the transaction by Greenberg Traurig LLP.
About Backcast Partners
Backcast Partners, formed in 2016, manages value-additive, credit-focused private investment funds providing capital to both private-equity backed and privately held management-owned companies. With approximately $1.3 billion in assets under management, the Backcast team has been supporting traditional middle-market companies ($7.5 million to $50 million of EBITDA) for decades. Backcast’s managed funds have a very flexible capital mandate and seek to invest from $20 million to up to $150 million per transaction. Backcast Partners operates out of offices in New York City and Millburn, NJ.
Information for Companies Seeking Capital, please contact:
Mark Gudis, Managing Partner
mgudis@backcastpartners.com
(973) 512-7487
www.backcastpartners.com
Investor Information, please contact:
David Petrucco, Managing Partner
dpetrucco@backcastpartners.com
(973) 512-7482
www.backcastpartners.com
