Canonsburg-based Aquatech, a water and wastewater treatment technology company, recently received a growth investment from Cerberus Capital Management.
Cerberus’ Supply Chain and Strategic Opportunities platform led the minority investment. The platform partners with companies promoting resilient infrastructure, driving innovation, addressing supply chain shortages, defining critical long-term U.S. national security requirements, and increasing national security.
“Technology leadership and performance excellence are core to everything we do,” Venkee Sharma, Aquatech executive chairman, said. “This partnership positions us as the premier platform for process technology, and empowers us to accelerate what we’ve done for decades: solving our customers’ toughest problems. Our decision to partner with Cerberus rests on a shared recognition of the importance of water scarcity and critical minerals security, and a conviction that we can support industry with reliable solutions that deliver the lowest total cost of ownership.”
Aquatech plans to create a technology-as-a-service development company for water and process customers and to focuses on geographic expansion in key markets, expansion of its mobile fleet, and digital services offering investment in key technologies that enable lithium production and membrane manufacturing.
“We look forward to partnering with the Aquatech team as they continue raise the bar across the water and lithium markets,” Michael Buchbinder, Cerberus managing director, said.