zouk ventures leads €10m financing round in water solutions company Triton-Format

16 February 2009

Water solutions company Triton-Format has completed a €10.4m round of financing to fund further organic growth and continue its buy-and-build strategy. The round was led by European cleantech investor zouk ventures, joined by senior management and Meidlinger Partners, a US-based investor with a background in the water industry.

Triton is a provider of water solutions for the maritime, industrial and small municipal sectors. The company designs, assembles and installs water treatment modules ranging from low-energy desalination, to water management and waste water systems. Triton serves clients in Europe, the Middle East, the USA and China.

In conjunction with this investment, Triton also announces the appointment of Dr Hartmut Kacirek, CEO of the Triton subsidiary WAT, to Triton’s executive management team as CTO. In addition, Professor Alexander Zehnder and Felix von Schubert will join the company’s supervisory board. Professor Zehnder is a member of zouk’s cleantech industry advisory group, while von Schubert is a partner at zouk.

‘Triton is a very exciting addition to zouk’s cleantech portfolio,’ said von Schubert. ‘zouk invested in Triton because we see significant growth potential for small and medium-sized water treatment and water efficiency systems. Triton has the right scalable platform to tackle a large underlying market. This is an impressive company and we look forward to working closely with the team.’
Professor Zehnder added, ‘Triton combines a highly valuable set of technical capabilities that clearly addresses customer needs in multiple industries. From what I have seen in the water space, this company clearly stands out has having a unique and promising growth strategy.’

‘Triton presents an exciting opportunity in the water sector, and we are pleased to partner with zouk, a leading European cleantech investor, in this investment,’ added Kevin Brophy, partner at Meidlinger. ‘We look forward to actively supporting Triton’s international expansion efforts, especially since Triton’s strategy aligns perfectly with our mission to promote a more sustainable environment and economy.’

zouk ventures is a London-based investment manager focusing on expansion stage capital in cleantech markets as well as renewable and environmental infrastructure opportunities. zouk currently manages two technology funds and invests in solar infrastructure projects through zouk Solar Opportunities.

Meidlinger Partners is a Philadelphia, US-based private equity investment firm the water and cleantech sectors, Meidlinger’s first fund, Meidlinger Partners Sustainable Investments, , invests in and partners with businesses that are positioned to provide solutions to the world’s growing water, energy and environmental challenges.

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Tags: cleantech, venture capital, water

This story was published on Monday, February 16th, 2009 at 6:10 pm and is filed under Europe, deals, energy efficiency, water. You can follow any responses to article entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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