APTwater acquire control of Sepro Membranes
LONG BEACH, Calif., Oct. 3, 2013
LONG BEACH, Calif., Oct. 3, 2013 /PRNewswire/ -- APTwater Rochem®, located in
Long Beach, California, announces the acquisition of Sepro Membranes in
Oceanside, California. With this transaction, APTwater Rochem® have acquired
the remaining shareholding of their longtime partner, Sojitz Corporation of
Tokyo, Japan. Sepro specializes in the development and manufacture of high
performance UF, MF and NF membranes and modules serving the water, food
processing, mining, dairy and automotive industries. Terms of the agreement
were not disclosed.
John Kaestle, APTwater CEO, stated, "We are very pleased to close this
transaction with our longtime partner Sojitz. Sepro Membranes are core to our
strategy going forward and we are excited about the prospects for growing the
business. Additive to strong technology and manufacturing capabilities, we are
acquiring a capable and committed staff and we expect to invest in capital
expansions over the next two years to expand Sepro's capabilities and new
Masayuki Hashimoto, General Manager Sojitz commented, "We have enjoyed a great
working relationship with APTwater Rochem and are happy to change our style of
working relationship. We look forward to continuing to work closely with
Michael Froud, Chief Growth Officer for APTwater added, "Sepro is core to our
membrane led Growth Strategy and we have high expectations for investing in
and growing the business with existing customers and partners. In addition,
Sepro's development in the area of 'functionalized membranes' is opening very
promising new markets for our systems, modules and membranes to solve unique
and challenging problems in the area of 'difficult to treat' waters and
Steven Jackson, Chief Financial Officer for APTwater acknowledged the
flexibility and speed of response from our financing partners, Hercules
Technology Growth Capital, who were instrumental in helping us close the
transaction, stating, "It is always important to have partners like Hercules
who take the time to understand the business strategy and what is required to
support an organization's growth both in the short term and long term."
APTwater Rochem® focus on difficult to treat waters for landfill leachate,
Marine, Mining, Nuclear and Oil & Gas markets. Headquartered in Long Beach,
California, with facilities in Germany, Italy and Singapore, APT is backed by
Venture Capital partners, including Kleiner Perkins Caufield & Byers, XPV,
Waste Management's Venture arm and Seacor Holdings.
For more information please refer to www.aptwater.com.
Sepro Membranes is now a wholly owned subsidiary of APTwater. Previously,
Sepro was a joint venture company with ownership shared by APTwater and
Sojitz. Sepro specializes in high performance UF, MF and NF membranes serving
the water, food processing, mining, dairy and automotive industries.
Sojitz Corporation is a multi-billion dollar trading company in Tokyo, Japan.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") is the
leading specialty finance company focused on providing senior secured loans to
venture capital-backed companies in technology-related markets, including
technology, biotechnology, life science and energy and renewables technology
industries, at all stages of development. Since inception (December 2003),
Hercules has committed more than $3.9 billion to over 250 companies and is the
lender of choice for entrepreneurs and venture capital firms seeking growth
Hercules' common stock trades on the New York Stock Exchange (NYSE) under the
ticker symbol "HTGC."
In addition, Hercules has two outstanding bond issuances of 7.00% Senior Notes
due 2019--the April 2019 Notes and September 2019 Notes--which trade on the
NYSE under the symbols "HTGZ" and "HTGY," respectively.
Companies interested in learning more about financing opportunities with
Hercules Technology Growth Capital should email@example.com, or call
Formore information about APTwater, please call 562-661-4999 or email
SOURCE APTwater Rochem
Press spacebar to pause and continue. Press esc to stop.