SAN FRANCISCO – Alpine Investors, a people-driven private equity firm, today announced the launch of Axia Water (“Axia”), its newly formed water services business. In conjunction with the launch, Axia announced an inaugural partnership with Madera Pumps (“Madera”), a provider of water well and pump services in California’s Central Valley.
As Alpine’s dedicated water services vertical, Axia will focus on partnering with established water businesses across the country to support and scale their offerings while preserving their independence and culture. Axia will sit within AlpineX, Alpine’s market-leading business services platform, and Amanda Neilson will serve as Axia’s CEO.
The water services industry provides access to a critical, non-discretionary resource for agricultural organizations, municipalities, industrial operators and private homes across the United States. While a necessity, running a water service company can be challenging – from navigating different hydrological and climate conditions, to repairing infrastructure, to adapting to ever-changing regional and national regulations. In addition to operational complexities, the water services industry suffers from significant underinvestment in technology and job training for the next generation. Axia has the industry knowledge and resources to maneuver these challenges and take these great businesses to the next level. By partnering with Axia, companies will have access to additional capital for organic and inorganic growth, technology and infrastructure investments (e.g., new crews and rigs), better asset utilization, world-class recruiting and sales and marketing efforts.
For over 45 years, Madera Pumps has provided full-service pump and well services in the Central Valley of California. Founded in 1977, Madera’s services include pump testing, data analysis, capacity and well yield, video surveying, well rehabilitation and repair. Madera’s unique focus on well rehabilitation differentiates and benefits the business, especially since the 2014 passage of California’s Sustainability Ground Water Act (SGMA) which limits the drilling of new wells. The business is led by co-partners, Matt Angell and Trisha Tolbert.
“We are excited to launch Axia through our partnership with the Madera team, who have built an outstanding water services company, which has benefited thousands of customers for decades across the Central Valley,” said Amanda Neilson, CEO of Axia Water. “Axia brings the benefits of a large company to entrepreneurial water services businesses, while Madera and well-established companies like it will continue to operate independently. Together, we have a unique opportunity to transform the water services sector, attract new talent and harness growth opportunities for this essential environmental service.”
“We are thrilled to enter our next stage of growth through our partnership with Amanda and the Axia team. Axia and Madera share the same mission of guaranteeing reliable access to water for growers, farmers, cities and local residents,” said Matt Angell and Trisha Tolbert, co-partners at Madera Pumps. “As a local one-stop service provider for all pump and well needs, we are excited and confident about this partnership and the future of Madera, its team, and our community.”
In addition to the partnership with Madera, Axia is actively seeking additional partnerships with strong regional water service companies. Axia is particularly interested in partnering with companies providing access to and service of groundwater resources to agricultural customers, municipalities, industrial operators and private homes across the United States. Terms of the private transaction were not disclosed. Madera Pumps will continue to operate independently under its existing brand.
About Axia Water
Backed by Alpine Investors, a people-driven private equity firm, Axia Water brings the benefits of a large company to entrepreneurial water services business owners, while preserving their independence and unique company culture. Axia helps water services businesses to reach their ultimate goals of entering a new era of growth, access technological advancements, offer rewarding careers, benefit from shared resources and cultivate a positive work culture. Axia is actively seeking partnerships with water services businesses that typically have between $8 to $40 million in revenue and are looking to enter into their next chapter of growth. For more information, visit Axia Water’s website at www.axiawater.com.
About Madera Pumps
Founded in 1977, Madera Pumps is a full-service pump and well services provider that serves farming operations, municipalities, domestic homes and Irrigation Districts in the Central Valley of California. Madera’s services include pump testing, data analysis, capacity and well yield, video surveying, well rehabilitation and repair. For more information, visit Madera Pump’s website at www.maderapumps.com.
AlpineX is an investment platform focused on lower middle-market services businesses. AlpineX invests in verticals acquiring asset-light services companies with durable customer value propositions, high-quality revenue, and attractive markets. We are actively seeking industry ideas with initial deals between $2m-$7m in EBITDA, as well as add-on acquisitions for our existing operating companies in professional education, training, certification and water services. For more information, visit www.alpinex.net.
About Alpine Investors
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction Alpine has over $11B in assets under management as of December 31st, 2022, and has three offices in San Francisco, New York, and Salt Lake City . For more information, visit www.alpineinvestors.com.