London, 17 July 2024 – Workdry International (“Workdry”), the parent company of engineered pump rental solutions and wastewater treatment asset rental providers Selwood, Siltbuster, and Vanderkamp, has announced a strategic expansion into the North American market through the acquisition of Holland Pump Company (“HPC”) a regional market-leading water handling and pump rental services provider in the United States.
The deal is backed by independent fund manager Arcus Infrastructure Partners (“Arcus”), through Arcus European Infrastructure Fund 3 (“AEIF3”) as Workdry’s majority shareholder. The acquisition will see Workdry immediately establish a market-leading presence in the East and Gulf Coast regions of the US, strengthening the combined group’s offering to the infrastructure, construction, municipal, and manufacturing sectors.
Workdry is acquiring the Florida-based business from a shareholder group led by XPV Water Partners. Since taking ownership in 2019, it has supported a series of strategic acquisitions to grow Holland Pump into one of the largest pure-play pump rental and service providers in the US, with over 1,000 pump assets, across 15 locations, and over 120 employees.
The company has a diversified and long-standing customer base, with its core end markets including municipal water infrastructure, core industrial segments, and broader transport infrastructure across its geographical footprint. HPC has a strong family and entrepreneurial heritage, with the founding family still active in the business, which aligns with Workdry’s history as a family business founded in the UK in 1946.
This move aligns with Workdry’s strategic expansion goals and follows its acquisition of the leading Dutch engineered pump rental solutions business, Vanderkamp Group, announced earlier this year. It establishes Workdry as a formidable player in engineered pump rental solutions on a global scale. Workdry plans to support the existing HPC management team, operating as the North American division of Workdry, in pursuing a high-growth strategy in its core markets, expanding through organic pump rental solutions growth, further M&A and leveraging its base of operations and Workdry’s expertise and asset solutions to introduce a modular wastewater treatment offering in the US market.
Holland Pump CEO, Tom Vossman, will continue to lead the US business, working closely alongside Workdry’s leadership team to integrate best practices and share expertise across the group. Tom, based in Texas, is an experienced leader in growing manufacturing, infrastructure and asset rental businesses who has delivered Holland Pump’s strategic plan over the past three years. He was appointed after XPV acquired Holland Pump from former owner and President, Win Blodgett.
Dan Lee, Group CEO of Workdry International, said: “Our acquisition of Holland Pump brings a well-established and respected business into our group, providing us with a strong entry point into North America which is the largest pump rental market in the world.
“I am delighted to welcome Tom and his team into the Workdry family. Our colleagues already know Holland Pump very well, having worked with them over many years to supply Selwood equipment to US customers. We know they share our vision and ambition and have a similarly strategic and acquisitive approach to growth, along with a passion for delivering outstanding solutions through exceptional people.
“Holland Pump brings huge value to the Workdry group, and we are looking forward to further adding to that value through continued investment, using our core business expertise, knowledge and capability to supercharge growth and success on both sides of the pond.”
Tom Vossman, CEO, Holland Pump, said: “We are excited to join the Workdry organisation. It’s clear we share a common vision for growth and expanding both our footprint and service offering looking into the future. I am very confident this will be a great combination of businesses to grow a global platform with the Workdry team.”
Jordan Cott, Partner at Arcus and Chair of Workdry, said: “Tom and his management team, together with the support of XPV and Win Blodgett, have built a hugely successful market leader in the US. We could not be more pleased that they have decided to partner with us to accelerate their growth trajectory through this next chapter.
“This acquisition continues Workdry’s impressive growth trajectory and opens new exciting opportunities in North America as Workdry continues to expand its mission-critical, rental-based solutions offering to support the maintenance, expansion, and delivery of sustainable water and wastewater infrastructure globally. We will be able to leverage our core rental proposition, including global market-leading engineering expertise and asset innovation, to significantly expand and strengthen HPC’s offering in the US and deepen its relationships with its valued long-standing customers.
“It fits perfectly within the Arcus value-add mid-market strategy of supporting market-leading businesses like Workdry on long-term value creation initiatives and builds on our successful track record of partnering with world-class entrepreneurs and family businesses.”
Sam Saintonge, Investment Partner with XPV Water Partners, said: “We are proud of the growth and success Holland Pump has had over the last several years. We are also thrilled to see the company and its team land with Workdry, an organisation with great support from Arcus that we have been very impressed with throughout the process.”
Selwood, Siltbuster and Vanderkamp currently deliver rental-based engineered solutions for water handling and wastewater treatment from 25 sites around the UK and Europe, with a fleet of over 6,000 pump assets and over 1,000 modular wastewater treatment assets.
Houlihan Lokey Inc. acted as financial advisor to Workdry. Catalyst Strategic Advisors LLC acted as exclusive financial adviser to Holland Pump.
For more information about Workdry see www.workdry.com
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Notes to editors
WorkDry International delivers market-leading water handling and treatment solutions through its Selwood, Siltbuster and Vanderkamp businesses. www.workdry.com
Selwood has a head office and manufacturing facility in Hampshire, 21 pump rental solutions branches around the UK, and relationships with a global network of partners and distributors. www.selwood.co.uk
Siltbuster, based in Monmouth, Wales, operates across the UK as number one solutions provider for on-site water treatment, wastewater processing and the prevention of waterborne pollution. www.siltbuster.co.uk
Vanderkamp has a head office in Zwolle, The Netherlands, and delivers leading tailor-made temporary pumping solutions all over the world through state-of-the-art engineering.www.vdkamp.eu
Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and specialist co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value of c. €23bn (as of 31 March 2024). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials, and energy sectors. Further information on Arcus Infrastructure Partners can be found on www.arcusip.com
Holland Pump Company has been a leader in the manufacture, sale, distribution, rental and service of speciality pumps and dewatering solutions for over 40 years.
With a relentless focus on customer service and enabling its customers to complete their projects faster and with less hassle, Holland Pump has gained a reputation for its expertise in the United States.
From their headquarters in West Palm Beach, Holland Pump operates 15 branch operations across Florida, Louisiana, New York, Pennsylvania, Maryland, Texas and South Carolina.
For more information, visit www.hollandpump.com
XPV Water Partners is a team of experienced operators and investors who are committed to making a difference in water. The firm manages investment capital from some of the world’s top institutional investors, and partners with emerging water-related companies to help them rapidly expand and achieve their strategic goals.
XPV aims to generate strong, risk-adjusted returns for its investors by leveraging its trusted ecosystem, deep industry knowledge and its water centric company scaling platform.
XPV is committed to building partnerships that contribute to growing people, sustainable businesses, prosperous communities, and a better planet for everyone.
For more information, visit www.xpvwaterpartners.com
