Backcast Partners Supports Strategic Growth of World Water Works with Customized Capital Investment
Summary
NEW YORK, Dec. 4, 2024 /PRNewswire/ -- 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. WWWs team of passionate water professionals develop expertly engineered products, solutions, and services with a uniquely customer-centric approach. "Michael Shein, Chartwells 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 Companys 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.