Nolan Capital, Inc. (“Nolan Capital” or “Nolan”) Announces an Agreement to Sell Its Portfolio Company Water Engineering Inc. (“WEI”) to Kemira Oyj (“Kemira”)

OMAHA, Neb.--(BUSINESS WIRE)--Nolan Capital, the family office of Peter Nolan based in Hermosa Beach, CA focused on investing in leading middle-market companies, is pleased to announce it has reached an agreement to sell its portfolio company Water Engineering to Kemira, a global leader in sustainable chemical solutions for water-intensive industries headquartered in Helsinki, Finland. The transaction is expected to close before the year-end 2025, following regulatory approvals and customary closing conditions.

Nolan Capital formed Water Engineering through the initial acquisition of Apollo Technologies, Inc. in September 2021 and partnership with David and Katie Wagenfuhr of Water Engineering in March 2022. David and Katie, along with support and strategic capital from Nolan Capital, led the expansion of the company through the acquisition of nine additional businesses, enhancing the service offering, market position, and customer reach. Today, WEI is a leading provider of water treatment services and solutions with a national presence bolstered by a network of 14 facilities across the United States.

“It has been a privilege to partner with David and Katie Wagenfuhr in growing Water Engineering into a leading water treatment platform. Through a shared commitment to innovate and protect critical water systems, Water Engineering has become a trusted provider of best-in-class service and solutions to the water treatment industry,” said Rob Weitz, Chief Investment Officer of Nolan Capital, Inc. “We are proud to have supported them through this milestone transaction, and we look forward to seeing the business continue to advance sustainable solutions and safety for such a vital industry.”

About Water Engineering, Inc.

Water Engineering is a leading provider of water treatment chemicals, consultation, and services including analytics and testing, water management, legionella management, and water treatment equipment among others. Through its 14 facilities, the company serves a diverse range of customers in sectors such as food & beverage, manufacturing and healthcare, and has presence nationwide in USA. The company currently employs 185 people.

About Nolan Capital, Inc.

Nolan Capital is the family office of Peter Nolan. Peter has more than 40 years of investing experience and was the former Managing Partner of Leonard Green and Partners in Los Angeles, California. Peter has investment experience in a variety of sectors, such as industrial and environmental services, consumer products and services, specialty retail, manufacturing, distribution, industrial products, business services, government services and healthcare. Nolan Capital invests in leading middle-market companies. Led by Peter Nolan, Nolan Capital executes and manages control investments in operating companies, real estate, and other investments on behalf of the Nolan family.