SAN DIEGO, CA and TORONTO, Sept. 24, 2015 /CNW/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a US$13 million venture debt financing for Aquam Corporation, a world leader in water infrastructure support, rehabilitation and diagnostics.
Aquam is the parent company of Nu Flow Technologies, an innovative small diameter pipe lining manufacturer, pipe lining installer Nu Flow, and global pipeline assessment and inspection technology provider JD7. Together, these entities address aging water infrastructure in the developed world through lower cost, less disruptive, and longer lasting solutions. In the United Kingdom, Aquam provides standpipe hire and ancillary services to large water utilities.
"Aquam is building a world-class specialty infrastructure company. They are a leader and innovator in a number of water-related services businesses around the world. We are very excited to support the company in the next phase of its growth," said Mark Usher, Partner at Wellington Financial. "The Company recognized that Wellington's True Growth Capital was the right type of financing to help the company get to the next level."
"These are very exciting times at Aquam and we look forward to a long-term relationship with Wellington Financial," said Cameron Manners, CEO at Aquam. "We expect to see positive growth within our company by continuing to offer an array of solutions for infrastructural renewal around the world."
Aquam is backed by Walsingham Fund, Turtle Creek Asset Management, and GLH Asset Management.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in Silicon Valley, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.
About Aquam Corporation
Aquam Corp is a global cleantech firm that provides infrastructure support, rehabilitation and diagnostics solutions for water infrastructure. Aquam, which is headquartered in San Diego, USA, uses environmentally friendly technologies to address the world's aging infrastructure problems. Aquam Corp is the parent company of world-leading small-diameter pipe lining technology manufacturer Nu Flow Technologies, pipe lining installer Nu Flow and global pipeline assessment and inspection technology provider JD7. All services are available in North America, South America, Europe, Asia, Africa and Australia.
For more information, visit www.aquamcorp.com.
SOURCE Wellington Financial LP
For further information: Susan Mocherniak, Wellington Financial LP, Tel: (416) 682-6007, [email protected]; Mike Vivaldi, Chief Financial Officer, Aquam Corporation, Tel: 647-523-1409, Email: [email protected]; Website: www.aquamcorp.com