SAN ANTONIO, Texas, Oct. 10, 2017 /PRNewswire-USNewswire/ -- Texas Water Supply Company, LLC ("TWS"), which operates approximately 40 wells serving San Antonio and the surrounding Hill Country region, announced today that it has received a significant capital investment from BrightstarCapital Partners ("Brightstar"), a private investment firm that partners with closely held companies in the business services, industrial services, and consumer sectors. The new capital will enable TWS to expand its production capacity to serve the growing water needs of the central Texas Hill Country region.
TWS, founded in 1999, supplies the San Antonio Water System from well fields that draw water from the Middle Trinity Aquifer. The Company's current well fields have an annual production capacity of over 32,000 acre-feet of potable water.
Trip duPerier, a Director of TWS, commented, "We are pleased that Brightstar is making this vital investment of capital and expertise to support the rapid growth of the Texas Hill Country region and to help us realize the long-term potential of Texas Water Supply Company. The additional capital will allow us to expand our water delivery capacity and ensure a sustainable water supply for municipalities, commercial and residential customers in fast-growing Hill Country communities."
"The Texas Water Development Board estimates a water shortfall of 221 thousand acre-feet per year by 2030 in the Hill Country – one of the fastest growing regions in the nation by population growth," noted Dr. Raul Deju, a Brightstar Senior Partner who has a Ph.D. in Hydrology and extensive groundwater development experience. He added, "Brightstar's investment will enable TWS to help close that gap and further the region's development."
"TWS is Brightstar's second platform investment, both in the State of Texas," said Andrew Weinberg, Brightstar Founder and Managing Partner. "TWS is an excellent fit with our strategy of investing in closely held businesses where we can apply our capital, technical knowledge, and operating experience to drive growth and value-creation."
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm focused on investing in closely held companies. Brightstar seeks partnership opportunities with exceptional management teams where it is uniquely positioned to drive value creation. Brightstar seeks control investments and employs an operationally intensive approach to investing that leverages its extensive experience and relationship network. For more information please visit www.brightstarcapital.com or @BrightstarCapital.
Media Contact: Ted Smith/Shree Dhond/Zach Kouwe Dukas Linden Public Relations 212-704-7385 [email protected]