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FilterBoxx Announces Growth Equity Investment and New Board Members
FilterBoxx Announces Growth Equity Investment and New Board Members
May 12, 2010
Calgary, Alberta
FilterBoxx Water and Environmental Corp., a Calgary based company and leading supplier of packaged water treatment systems to Canada’s oil and gas industry, is pleased to announce that it has closed a growth equity financing led by XPV Capital Corp with EnerTech Capital and The Walsingham Fund.
“We are excited to have closed this round with not one but three highly regarded private equity funds. We believe that their involvement in FilterBoxx will lend a substantial amount of strategic and development support in the area of innovative water treatment technology, access to new markets, the development of a broader customer base, and access to future capital” said FilterBoxx CEO Kevin Slough.
FilterBoxx addresses some of the most mission critical process water treatment requirements of major oil and gas producers such as SAGD water reuse, boiler feed water treatment and metals removal, in addition to providing treatment for potable water and wastewater to drilling, mining and pipeline camps. Other markets served by FilterBoxx with its packaged treatment systems include aboriginal communities, resorts, and small municipalities.
In conjunction with the private placement, John Coburn from XPV Capital, a leading growth equity investor focused on the water sector, and Wally Hunter from EnerTech Capital will be joining the FilterBoxx board of directors. Prior to joining XPV, Mr. Coburn was President and Chief Operating Officer at ZENON Environmental where he was awarded the “Architect of Zenon Award” to recognize his efforts in building the company from start-up to a world leader in water treatment. Prior to EnerTech, Mr. Hunter was with Royal Bank of Canada ("RBC"), where he was a Managing Director of the bank's private equity fund (RBC Capital Partners) and responsible for the Energy Technology/Advanced Technology Fund.
“We are very pleased to welcome FilterBoxx into our portfolio of investment companies and partner with them in building upon their achievements to date” said John Coburn, Managing Director of XPV Capital. “This investment fits within our strategy to support rapidly growing companies addressing today’s most pressing water issues.”.
In operation since 2001, FilterBoxx has water treatment systems operating within Canada, the USA and Afghanistan. In June 2009, FilterBoxx was ranked #19 on the PROFIT 100, PROFIT Magazine’s list of Canada’s 100 Fastest Growing Companies.
For more information please contact:
Kevin Slough, CEO
FilterBoxx Water and Environmental Corp.
Tel: (403) 203.4747
Email: Kevin.Slough@filterboxx.com
Web: www.filterbox.com
About FilterBoxx Water and Environmental Corp.
FilterBoxx Water and Environmental Corp. is a leading provider of packaged water treatment systems to the oil and gas industry. Through its rental fleet and capital sale program, FilterBoxx addresses some of the most mission critical process water treatment requirements of major oil and gas producers such as SAGD water reuse, boiler feed water treatment, and metals removal, in addition to providing treatment for potable water and wastewater to drilling, mining, and pipeline camps. Other markets served by FilterBoxx with its packaged treatment systems include aboriginal communities, resorts, and small municipalities.
About XPV Capital Corporation
XPV Capital Corporation is a Toronto-based investment firm focused on making a difference in water. By combining proven water entrepreneurs with seasoned investment professionals, XPV is a true value added financial partner for both investors and companies aiming to capitalize on the sweeping transformation taking place in the global water industry. For more information visit http://www.xpvcapital.com.
About EnerTech Capital
EnerTech Capital, a pioneer of the cleantech space founded in 1996, is a firm focused on mid and growth-stage ventures that use innovative technologies and business models to address the global need for cleaner, cheaper, more efficient energy. The firm manages three funds totaling $380 million. EnerTech is located in Philadelphia and Toronto. For more information visit http://www.enertechcapital.com.
About Walsingham Fund
Walsingham is a leading Canadian Growth Capital Fund that focuses on future market-leading businesses that use technology to better serve large markets. The Fund invests in companies that are exploiting breakthroughs to solve real customer problems in high value, rapid growth markets. Previous significant influence investments have included: Open Text Corporation, Architel Systems Inc., Syndesis Inc., LogicVision Inc., and ListenUp Canada. http://www.walsinghamfund.com