Sylmar Group Completes Capital Raise to Invest in Water and Wastewater Services Businesses
Founded by water industry veterans, Sylmar Group brings patient capital to legacy businesses providing industrial, commercial, and municipal water and wastewater critical services
LOS ANGELES, Nov. 19, 2020 /PRNewswire/ -- Sylmar Group, a company dedicated to investing in legacy operating water and wastewater services businesses, is announcing its official launch following a successful capital raise. Founders Peter Brooks and Michael Warady bring decades of water industry experience to the mission of buying and operating great companies providing mission-critical water and wastewater services, with the goal of holding the acquired companies indefinitely.
Peter Brooks is a former US Marine infantry officer and two-time Iraq War veteran who has worked in a number of sales, P&L, and leadership positions in water technology companies and service providers related to advanced disinfection, small hydropower, and municipal and industrial contract operations and emergency response.
Michael Warady began his career in the Chinese solar panel manufacturing industry prior to returning to the US and holding a range of roles in the water industry – from early stage filtration technologies to water infrastructure project developers – geared towards developing and deploying both centralized and decentralized water and wastewater treatment technologies for industrial and commercial applications.
"The declining availability of clean, reliable water will be the defining natural resource challenge of the 21st century," says co-founder and CEO Peter Brooks. "At the same time, many great water service providers are undergoing leadership transitions without a clear succession plan. Our goal is to meet these two challenges by partnering with founders of companies who provide mission critical water services who are looking for a long-term operating owner of their business who will build on their legacy."
"Water is systematically undervalued in our economy," says co-founder and President Michael Warady. "But the real cost of water comes in the form of water service interruption, operational downtime, and infrastructure failure that halt business operations or put public and environmental safety at risk. There are thousands of terrific operating water and wastewater services business across the country that keep our economy running, and Sylmar's mission is to continue the critical work they managed over the last several decades."
Sylmar Group is neither a private equity fund nor a water industry strategic, allowing flexibility to owners and founders looking for an alternative resting spot for their life's work. Sylmar Group's goal is to keep existing teams intact and cement the legacy of the entrepreneurs and founders who built the companies.
President Michael Warady says, "We're excited to launch and look forward to the opportunity to partner with great business owners and leaders around the industry who are planning the next phase of their careers."
About Sylmar Group
Sylmar Group buys and builds mission-critical service businesses in the water and wastewater sector from founders and entrepreneurs. Combining decades of industry experience with committed, patient capital, Sylmar Group scales legacy businesses that serve to protect public health and the environment.
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SOURCE Sylmar Group
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