PSP Capital’s latest advanced industrial platform leverages the company’s focus on building products and infrastructure, as well as strong industry relationships
CHICAGO, April 6, 2022 /PRNewswire/ — PSP Capital, a global private investment firm founded by its Chairman, Penny Pritzker, has acquired StormTrap, a leading provider of innovative stormwater management systems, from Warren Equity Partners. The acquisition of StormTrap by PSP Capital was carried out in partnership with the management team of the company as well as its founding family.
StormTrap, based in Romeoville, IL, provides industry-leading solutions in groundwater stormwater management that better manage runoff, protect waterways, provide better environmental protection, and improve water quality and treatment. ‘water. Stormwater management is one of the fastest growing segments of the infrastructure industry, driven by aging water infrastructure, increasing attention to water quality, scarcity and pollution. increased land costs, urban infill trends and increased frequency of extreme weather events causing flooding. StormTrap is an essential partner for homeowners in meeting these trends and needs.
“We are delighted to welcome the StormTrap team to the PSP Partners family of market-leading companies,” said Penny Pritzker, Chairman of PSP Partners and former US Secretary of Commerce. “StormTrap is an innovative, solution-oriented and service-oriented company with a fantastic team that meets a growing market need. It is a company that not only provides technical, highly customizable and efficient solutions in stormwater management, but that provides and continues to invest in conservation and environmental protection tools to improve water quality.
“StormTrap’s management team and organization are energized and excited about this partnership with PSP Capital,” said Nate Olds, CEO of StormTrap. “With its dedicated focus on the building products and infrastructure industry, highly relevant global network and values-based culture, PSP’s alignment with StormTrap was evident from day one. We are excited to begin this partnership with PSP as we continue to invest and grow our market-leading business.”
StormTrap has a differentiated and lean model based on robust in-house R&D and an excellent network of outsourced vendors of manufacturing partners, together serving customers and partners across North America As good as inside Australia, New Zealand, Malaysia and Singapore. As part of the acquisition by PSP, Jamie Hawkenan industry veteran and member of the company’s founding family, will continue to serve on StormTrap’s board of directors.
“Our investment in StormTrap reflects PSP’s focus on investing in market-leading companies and partnering with exceptional management teams,” said Michael Oleshansky, CEO of PSP Capital. “We are excited about our new partnership with the StormTrap team and to continue our strong investment momentum at PSP Capital in the advanced industries and business and technology services sectors.”
“From the first time we met Nate and his team, it was clear that this was a dynamic company with a fantastic culture and an innovative approach that was a perfect match for our expertise in products and specialized construction infrastructure, as well as our deep industry relationships.” noted Don Traubert, Vice President, PSP Capital. “We are incredibly optimistic about the future of StormTrap and look forward to supporting its dynamic management team and making investments to build on the company’s proven track record as a market leader in water management solutions. rainfall and water quality.
PSP Capital focuses on buyouts and investments in established companies, with an emphasis on two main sectors: advanced industries (products and services) and business and technology services. Over the past few months, the company has made a number of new investments and strengthened its management team with Jon Skinner joined PSP Partners as Managing Director in January. StormTrap Acquisition Adds Strong Leading Industrial Business to PSP Capital’s Growing Portfolio of Companies and Follows PSP Capital’s Recent Investment in New Technology Services Platform in Ntiva [www.ntiva.com]. PSP Capital’s investment in StormTrap was led by Michael Oleshansky and Don Traubert.
About StormTrap, Inc.
StormTrap offers proven, cutting-edge solutions to manage runoff, protect waterways and improve property use. StormTrap is committed to providing cost-effective, customized water management solutions to engineers, homeowners and municipalities across North America and abroad. Whether customers are concerned about water quality, retention, infiltration or water collection, StormTrap has a design that will reduce footprint, adapt to site constraints, reduce overall costs and will meet the specific needs of the project. For more information, visit www.stormtrap.com.
About PSP Partners:
PSP Partners is a Chicago-based private investment firm founded by President Penny Pritzker, an entrepreneur, civic leader and philanthropist, and former US Secretary of Commerce. The firm is comprised of a highly experienced team of investment professionals and business builders who are focused on partnering with entrepreneurs, business owners and management teams to build market-leading companies. and develop valuable assets. With investment strategies focused on established companies (PSP Capital), emerging/growth companies (PSP Growth) and real assets (Pritzker Realty Group), PSP Partners invests across stages and asset classes in emphasizing business and technology services, advanced industries and real estate in line with its expertise and experience. For more information, visit www.psppartners.com.