Lincoln International served as financial advisor to Freedom Waterworks
Freedom Waterworks
Freedom Waterworks is a leading independent fabricator and distributor of a comprehensive set of pipe, valves, fittings and related products serving the water and wastewater infrastructure markets. Headquartered in Houston, Texas, the company provides a broad range of ductile iron, carbon steel and stainless steel piping solutions, including custom pipe fabrication, protective linings and coatings, flow control products and project support services.
Founded in 1989, Freedom Waterworks has developed a differentiated, solutions-oriented model supporting general contractors, engineers, municipalities and other customers across complex water and wastewater infrastructure projects. The company combines extensive product expertise, in-house fabrication capabilities, technical support and responsive service to help customers manage mission-critical project requirements from initial planning through delivery.
The Deal
Over its more than three decades of operation, Freedom Waterworks has established a strong position in the water infrastructure market through its technical capabilities, extensive product offering and commitment to customer service. In recent years, the company has invested meaningfully in its people, facilities and capabilities to drive growth, including the expansion of its fabrication operations, and to further establish itself as a value-add distribution platform across Texas.
Freedom Waterworks and its primary shareholders from Amerisource retained Lincoln International as exclusive financial advisor to identify the right partner to support the company’s next phase of growth. After evaluating opportunities with both financial and strategic partners, Freedom Waterworks and its leadership team elected to join the Vessco Water family of companies (Vessco Water is a portfolio company of Gryphon Investors).
“Lincoln was a trusted partner to our team from start to finish. Their guidance and support were invaluable in helping us navigate a complex and demanding process, and the team consistently delivered beyond our expectations,” said Dave Weiler, Chief Executive Officer of Freedom Waterworks.
Brad Smith, President of Freedom Waterworks, added, “Lincoln’s knowledge of the municipal water infrastructure market, industry trends and channels was critical in communicating Freedom’s unique value proposition to potential partners.”
Our Perspective
Adam Gifford, Managing Director at Lincoln International, commented, “Freedom Waterworks has built an outstanding business with a strong reputation for technical expertise, responsiveness and customer service in the critical water infrastructure market. We are proud to have partnered with the Freedom Waterworks team and its shareholders on this transaction and look forward to following the company’s continued success as part of Vessco Water.”
“Freedom Waterworks’ differentiated fabrication capabilities, rapidly expanding leadership in the growing Texas market and strong management team made this a unique investment opportunity with a strong strategic fit for Vessco Water,” said Brad Clarke, Director at Lincoln International. “Joining Vessco Water provides Freedom with access to additional resources and capabilities to support continued organic growth, including broadening solutions available to its customers and enabling further geographic expansion.”
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