Water Quality Platform Backed by KKR and XPV Water Partners Unveils Axius Water Brand and Appoints Two Industry Experts to Board of Directors
Orignally posted on: Businesswire
BOSTON–(BUSINESS WIRE)–Axius Water, the leading water quality solutions platform created by KKR and XPV Water Partners to address pressing water quality challenges across the globe, today unveiled its new corporate name and announced the appointment of Gretchen McClain and Debra Coy to the Company’s Board as Independent Directors.
“We are delighted to unveil the new platform name and to welcome Debra and Gretchen to the board of Axius Water”
Axius Water is the new name for the platform established by KKR’s Global Impact Fund and XPV Water Partners in December 2019 with the foundational acquisitions of Nexom and Environmental Operating Solutions, Inc (EOSi), and the subsequent acquisition of Environmental Dynamics International (EDI) in June 2020. The platform is led by veteran executive Chris McIntire who joined Axius Water as CEO in August 2020. Winnipeg, Manitoba-based Nexom, Pocasset, Massachusetts-based EOSi and Columbia, Missouri-based EDI will continue to trade under their existing names and brands as part of Axius Water’s growing portfolio.
“We are delighted to unveil the new platform name and to welcome Debra and Gretchen to the board of Axius Water,” said Robert Antablin of KKR Global Impact and David Henderson of XPV Water Partners. “We believe the addition of two highly accomplished industry experts to our board will support our continued ambitions to bring together world-class water quality products and services to create a leading end-to-end solutions platform.”
“We want the Axius Water name to represent the very best in nutrient management,” said Chris McIntire, CEO of Axius Water. “With Gretchen and Debra on our board of directors, we have added well-known industry experts who have the experience and wisdom to support that mission.”
Gretchen W. McClain Biography:
Ms. McClain has had an illustrious career in the water industry and more broadly in the industrial and transportation sectors. She previously served as the founding President and CEO of Xylem Inc. (NYSE: XYL), a global water technology company with over $5 billion of revenue, where she oversaw the successful spin-off of Xylem from ITT Corporation to become a standalone company. Prior to Xylem, Ms. McClain was Senior Vice President at ITT Corporation and President of ITT Fluid Motion & Control, a $4.5 billion diversified manufacturer of highly engineered technology and equipment, where she led the organization to double-digit revenue growth.
Earlier in her career, Ms. McClain held a number of executive positions at Honeywell Aerospace (formerly AlliedSignal), including Vice President & General Manager of the Business, General Aviation and Helicopters Electronics Systems. Prior to that, Ms. McClain spent nine years with NASA, including serving in the top management position responsible for NASA’s International Space Station (ISS). In this capacity, she played a pivotal leadership role in the successful development and launch of the ISS program and Shuttle/Mir missions. Ms. McClain received the NASA Distinguished Service Medal for her service.
Ms. McClain holds a B.S. degree in mechanical engineering from the University of Utah and is a member of the University of Utah Engineering National Advisory Council. She is currently an Operating Executive at The Carlyle Group and serves on the boards of AMETEK, Inc. (NYSE: AME), Booz Allen Hamilton (NYSE: BAH) and J.M. Huber Corporation.
Debra Coy Biography:
Ms. Coy is a capital markets expert and leading advisor to water industry companies. She currently serves as Executive-in-Residence with XPV Water Partners and has served as an advisor to XPV Capital since 2010. Ms. Coy began her career on Wall Street and worked as an equity research analyst for approximately 20 years, developing a leading franchise and expertise in covering the global water sector for investors at firms including Janney Montgomery Scott, Schwab Capital Markets, and HSBC Securities. She was named a Financial Times/Starmine “Best Brokerage Analyst” in 2008 and 2009 and a Forbes “Best Brokerage Analyst” in 2010 for water utilities coverage.
Ms. Coy is a regular speaker and columnist on water industry finance and innovation and currently serves on the Board of Directors for Global Water Resources Inc. (NASDAQ: GWRS) and Willdan Group Inc. (NASDAQ: WLDN). She previously served on the Board of Directors for AquaVenture Holdings before it was acquired by Culligan in early 2020. Ms. Coy received an M.A. degree in Journalism from the University of Maryland.
About Axius Water
Axius Water was founded in 2019 by KKR, in partnership with XPV Water Partners. This wastewater treatment platform aims to become the leading provider of nutrient management solutions for municipal and industrial wastewater treatment facilities. Through the foundational acquisitions of EOSi and Nexom, and the subsequent acquisition of EDI (Environmental Dynamics International) the platform aims to address nutrient contamination of water globally by building a diversified and growing portfolio of leading solutions. For additional information about Axius Water, please visit www.axiuswater.com.
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About XPV Water Partners
XPV Water Partners is comprised of experienced water entrepreneurs, operators, and investment professionals dedicated to make a difference in the water industry. They invest in and actively supports water-focused companies to enable them to grow and deliver value for all stakeholders. Over $400 million USD are managed by XPV in investment capital from institutional investors in North America, Europe and Asia. For more information about XPV Water Partners, please visit www.xpvwaterpartners.com.