Miami, FL – (June 5, 2013) Trivest Partners (“Trivest”) today announced the successful completion ts acquisition of Enviro Water Solutions LLC (d/b/a “Pelican Water Systems”, “Pelican” or the “Company”), a leading designer and marketer of a complete line of branded water purification products for the residential market. Trivest acquired Pelican from the Company’s Founders, Ronald Stanley, Richard Stanley and Chad Galloway. Pelican represents the 13th platform company investment in Trivest Fund IV, a $325 million fund dedicated to investing in founder/family owned businesses.
Based in DeLand, Florida and founded in 2004, Pelican offers a diverse range of branded home water treatment products including the NaturSoft line of salt-free water softeners, whole-house water filters and iron removal systems. Nearly all of the Pelican’s sales are direct-to-consumer, driven by the Company’s extensive online lead generation capabilities and dynamic website, located at www.pelicanwater.com. Pelican products feature a high-quality design, an attractive appearance and reliable performance, achieved through technology certified by various industry organizations.
Pelican’s salt-free systems provide an alternative to traditional salt-based water softeners offering several benefits, including ease of maintenance (no recurring salt replenishment), less corrosion to pipes, less wasted water (no backwashing required), lower price and environmental benefits (no brine discharge into ground water). In fact, several jurisdictions in the United States have begun to restrict the use of salt-based systems due to their negative environmental effects.
Ron Stanley, one of Pelican’s Founders, stated, “We had planned to run a broad process to sell our business, but we knew after our first meeting that Trivest was the right partner for us. Their ‘Just Say No’ program was unique and very appealing. In addition, we knew that Pelican and its people would continue to prosper in the future under the leadership of the Trivest team, which was important to us.”
Troy Templeton, Trivest’s Managing Partner, stated, “We are pleased that Pelican’s Founders chose Trivest as the best steward to lead the Company to the next level. Pelican has built a very strong brand over the past few years, offering a disruptive technology in a very large addressable market. We believe the Company is poised to continue its strong growth in an industry where consumers are seeking solutions that are both ‘green’ and cost effective.”
Woodbridge International served as financial advisor to Pelican on the transaction and Akerman Senterfitt provided legal counsel to Trivest.
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since being founded in 1981, Trivest related entities have completed nearly 200 transactions, totaling over $5.0 billion in value. For additional information, please visit www.trivest.com.