APTwater Buys Sojitz Stake in Sepro Membranes VenturePeter Ward
APTwater Inc., supplier of water-treatment membranes to Coca-Cola Co. and General Motors Co., bought control of Sepro Membranes, ending a joint venture with Japanese trading company Sojitz Corp.
Sepro, founded 15 years ago, makes specialty membranes that serve the water, food processing, mining and dairy industries, Long Beach, California-based APTwater said in a statement today. Terms of the agreement weren’t disclosed.
“We expect to invest in capital expansions over the next two years to expand Sepro’s capabilities and new products,” John Kaestle, chief executive officer of closely held APTwater, said in the statement. Hercules Technology Growth Capital Inc. was a financing partner in the deal, APTwater said.