WEST PALM BEACH, Fla., July 12, 2016 /PRNewswire/ -- Florida Drilling (Florida Design Drilling Corp.), a licensed water well and general contractor and leading provider of well drilling and water resource construction services in Florida, today announces a new strategic partnership with Cimbria Capital. Cimbria Capital is a private equity investment firm based in Illinois and Texas with a focus on solving global problems in water and agriculture. The partnership will leverage Cimbria's expertise in capital management, operations efficiency, and brand advocacy to further strengthen Florida Drilling's business platform and prepare the company for future growth.
"We are very happy to work with Cimbria Capital," said Dan Ringdahl and Noah Ringdahl, co-owners of Florida Drilling. "Cimbria Capital brings embedded industry expertise in capital management, operations, and thought leadership. Their active engagement with Florida Drilling's senior leadership will add lasting value by optimizing the efficiencies of our company and solidifying our brand's reputation within the market."
With a continued need to improve and safeguard water resources in Florida, the demand is greater than ever for smart drilling and treatment and distribution of water resources. For over 30 years the executive management team of Florida Drilling has been trusted with some of the state's most challenging municipal, industrial, irrigation, and commercial water projects due to its proven capabilities and its constant improvement of sustainable drilling and construction methods.
"We consider Florida Drilling a best-in-class service provider across a broad range of water solutions benefitting Florida's economic and environmental resilience," said Brian Iversen and Henrik Rasmussen, co-founders of Cimbria Capital. "Their commitment to exceeding client expectations, smart drilling, construction innovation, and sustainable water wells also exemplifies what Cimbria calls 'corporate statesmanship.' We look forward to further expanding an enterprise based on integrity, results, and agility to more clients in need of reliable water."
About Cimbria Capital: Cimbria Capital is a private equity firm based in Illinois and Texas conducting early stage buyout and growth capital investments in the water technology and agribusiness sectors in North America and Europe.
About Florida Drilling: Florida Drilling is a licensed water well and general contractor and leading provider of water well drilling and water resource construction services located in West Palm Beach, Florida specializing in solutions for industrial, irrigation, and commercial clients.
For more information on Cimbria Capital or Florida Drilling, please contact Noah Sabich at [email protected]
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SOURCE Cimbria Capital