Management advice on private equity investment

Background

Hydro International is a leading global provider of advanced solutions and services for the treatment of wastewater and control of storm water for municipal, construction and industrial customers. It employs 219 staff, mainly in the UK and in Maine and Oregon in the US, with revenues of approximately £55 million.

The owners of the business, Hanover Investors, had bought the business in 2016, and sought to sell it to Agilitas Private Equity and the incumbent senior management team. The management team required independent advice not only on their own personal position, but also on the impact on the business of the financial structure of the investment coming in from the buyer.

Action

FRP was engaged to advise the senior management team of Hydro International and steer them through the transaction, negotiating their personal financial positions and the shareholders agreement on their behalf.

Outcome

We were able to draw on our extensive experience of advising management teams in similar situations, and to tailor our advice for those management staff based overseas.

“We are very grateful to FRP for the seamless support that they have provided to us, the management team. They have been a pleasure work with and their expertise, coupled with a pragmatic and directional approach, have been invaluable in guiding us through this transaction with Agilitas.” Roger Crook, Director of Hydro International