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Buyer Dossier

Centre Partners

Prepared for AquaScience
AquaScience • Lawrence "Larry" Casey

Buyer Profile

Firm
Centre Partners Management
Type
Middle-Market PE — Control Investments
Founded
1986
Headquarters
New York, NY (780 3rd Ave, 41st Fl)
Track Record
23 platform investments, 14 exits, 9 funds
Key Portfolio Co.
UnitedLandServices (4 acquisitions in 2025)
Target Sectors
Industrial services, residential/commercial services, healthcare
Deal Preference
North American middle-market, buy-and-build

Key Contacts

NameTitleRelevanceEmail
Centre Partners Investment TeamIndustrial/Services GroupPlatform origination in outsourced industrial services
LP First Capital (LPFC)Co-investor (UnitedLandServices)Co-investment partner; parallel water services interest possible
Corp DevCorporate DevelopmentDeal sourcing and structuring

Strategic Fit

Centre Partners has already demonstrated its buy-and-build playbook through UnitedLandServices — a platform that completed four strategic acquisitions in 2025 alone. That same model applied to water treatment would position AquaScience as the Wyoming anchor for a Mountain West water services roll-up: recurring revenue, essential-service nature, fragmented competitive landscape, and operational improvement opportunity.

Centre Partners' stated investment criteria match AquaScience precisely: experienced management, organic and acquisitive growth potential, market leadership in a niche segment, and sustainable competitive advantages. Water treatment in Wyoming qualifies on all counts — it's a niche service with regulatory defensibility, community entrenchment, and limited competition from institutional players.

The industrial services and residential/commercial services experience in Centre's portfolio gives them operational frameworks applicable to water treatment. The recurring revenue model, service territory density logic, and fragmented competitive landscape Centre navigates in other sectors translate directly to water treatment management. They know how to buy, integrate, and grow this type of business.

Approach Strategy

Call Opener: "Centre has shown real conviction in the outsourced essential-services model through UnitedLandServices — we're running a process on a Wyoming water treatment company that fits the same platform logic: recurring revenue, essential service, fragmented market, clear add-on runway. Wanted to get this in front of your team before we broaden outreach."

1
Same playbook you ran with UnitedLandServices. AquaScience offers the same buy-and-build entry point: a quality operator in a fragmented market with demonstrated recurring revenue. The Mountain West water treatment landscape has the same consolidation characteristics that made ULS attractive in land services.
2
Essential-service defensibility. Water treatment customers don't churn — they can't operate without clean water. That contract stickiness and low voluntary churn profile is the recurring revenue quality Centre seeks in every platform. AquaScience's customer relationships are multi-year and operationally embedded.
3
Experienced owner ready to transition. Larry Casey has built a clean, focused water treatment operation. He's ready for a structured exit with the right partner. Centre gets a management-supported transition and a willing seller — no adversarial dynamic, no operational disruption risk.

Pipeline History

DateActivityOutcomeStatus
Mar 2026Dossier prepared; Centre Partners identified as Tier 2 financial buyerResearch completeComplete
Initial outreach to investment teamPendingNext Step
NDA & teaser deliveryPending
Management introductionPending