NewSpring Invests in AUC Group
October 26, 2015
Radnor, PA - October 26, 2015 - NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine Capital ("NewSpring"), the dedicated mezzanine fund of NewSpring Capital, has made an investment in AUC Group, L.P. ("AUC"). Argosy Private Equity led the financing and AUC will use the total proceeds to continue expansion.
AUC is a leading provider of wastewater treatment solutions to municipalities and Municipal Utility Districts ("MUDs"), primarily in the Houston market. MUDs are special purpose government districts created by residential developers to provide public utilities to new residential developments. These developments do not have access to neighboring municipalities' utilities, thus necessitating a special district to provide these services.
"We look forward to working with the management team at AUC as they continue to grow their business," said Andrew Panzo, NewSpring General Partner and newly appointed member of the AUC Board of Directors. "We believe AUC's model will be attractive to other municipalities around the country."
"AUC is proud to take this important step with Argosy and NewSpring," said Todd Mueller, President of AUC. "We plan to expand AUC into high-value target markets and look forward to working with our new partners, including Andrew and the rest of the NewSpring team."
About AUC Group, L.P.
AUC Group, L.P. is an industry leader that designs, manufactures, and installs wastewater treatment facilities. AUC has the capability to provide turn-key services including various financial plans that include Lease and Lease to Own arrangements. AUC provides both large, field erected permanent treatment plants as well as flexible, modular treatment plants that are designed to expand as needs arise. AUC has successfully completed more than 1,000 plants in its history, ranging in capacity from 5,000 gallons per day to over 1,500,000 gallons per day. AUC has historically focused on the Texas market; however, the company has completed numerous projects in other states, Mexico and El Salvador. AUC Group, L.P. has built a solid reputation of dependable, quality work with a commitment to customers and the environment. For more information, please visit: www.aucgrouplp.com.