Larry, you built AquaScience from the ground up 41 years ago. before the internet existed as a sales channel. and turned it into one of the most trusted water treatment companies in the northeast. You've served over 100,000 customers, earned a 4.8 Google rating, and positioned the company at the exact intersection of where regulations and buyer demand are heading.
You want to sell AquaScience at the right time to the right buyer. Someone who values what you've built, keeps the team together, and pays you what the business is actually worth.
That's exactly what Next Chapter does. We represent business owners like you. people who built something real with their hands and their reputation. and we find the buyer who sees that value and pays for it.
Based on our preliminary review, we believe AquaScience is positioned to achieve a valuation in the range of $6.4M to $12.8M, representing approximately 4.0x to 8.0x your real profit after we add back owner perks.
This proposal outlines our approach, timeline, fee structure, and the specific steps we will take to get you the best outcome.
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Water Treatment M&A Market Overview
Current Multiples
4.0x - 8.0x
Why Now
- EPA PFAS maximum contaminant levels (4 ppt) finalized in 2024 are creating mandatory demand for treatment solutions across New England
- Water treatment businesses with recurring revenue and regulatory specialization are trading at record multiples as buyers compete for scarce quality targets
- The northeast market has fewer quality operators than demand warrants, creating a seller's market for established companies with AquaScience's profile
Recent Comparable Transactions
| Company Type |
Deal Size |
Multiple |
Buyer Type |
Year |
| Regional Water Treatment |
$12M |
6.5x |
PE Platform |
2025 |
| Water Services Provider |
$8M |
5.2x |
Strategic |
2024 |
| Environmental Services |
$15M |
7.0x |
PE Rollup |
2025 |
The water treatment industry is experiencing a generational shift in M&A activity. Private equity firms and strategic consolidators have recognized that water treatment sits at the intersection of three mega-trends: aging infrastructure requiring remediation, tightening EPA and state-level water quality regulations (particularly around PFAS 'forever chemicals'), and the essential-service nature of clean water that makes these businesses recession-resistant. In 2024-2025, water treatment and environmental services companies traded at EBITDA multiples of 4.0x to 8.0x, with premium valuations going to companies demonstrating recurring revenue, regulatory specialization, and strong customer density.
The buyer universe for a company like AquaScience is exceptionally deep. Strategic acquirers include national water treatment platforms like Culligan, Pentair, and WaterCare that are actively rolling up regional operators to build density. Private equity groups. particularly those with existing home services or environmental services platforms. view water treatment as an adjacent vertical with superior retention economics. Infrastructure-focused funds have also entered the space, attracted by the essential-service characteristics and regulatory tailwinds that create durable demand regardless of economic cycles.
What makes this moment particularly favorable is the scarcity premium. There are very few water treatment companies in the northeast with AquaScience's combination of four decades of operating history, a functioning eCommerce platform, regulatory specialization in PFAS and radon, and the kind of Google rating and BBB accreditation that signal genuine operational excellence. Buyers are competing for a limited supply of quality targets, and companies with proven recurring revenue models and specialized capabilities command premiums that exceed standard industry multiples.
AquaScience was founded in 1984 by Lawrence Casey on a promise that still lives on the company's website today: to bring the world's finest water treatment equipment and well water supplies directly to the public at the lowest prices in the country. That was before the internet existed as a commercial channel. and yet Larry built a direct-to-consumer model that anticipated by decades what the rest of the industry would eventually try to replicate. Forty-one years later, AquaScience has served over 100,000 customers and completed more than 120,000 service calls in a three-year window alone, establishing itself as one of the most trusted water treatment providers in the northeastern United States.
What makes AquaScience particularly remarkable is the breadth of its competitive moat. The company operates both a physical service business out of Wyoming, Rhode Island, and a national eCommerce platform. a dual-channel model that very few water treatment companies have successfully built. The eCommerce component creates a low customer-acquisition-cost revenue stream that compounds over time through organic search traffic, while the local service operation generates high-margin recurring revenue through maintenance contracts, chemical programs, and water testing services. This hybrid model means AquaScience captures value at every stage of the customer lifecycle.
The company has also positioned itself at the intersection of several powerful regulatory tailwinds. AquaScience holds specialized capabilities in PFAS remediation, radon treatment, and Legionella control. three areas where federal and state regulations are tightening rapidly, creating mandatory demand. As municipalities and homeowners face increasing scrutiny on water quality, companies with AquaScience's depth of expertise and 41-year track record become essential service providers rather than discretionary purchases. The company's BBB accreditation and 4.8 Google rating reflect the kind of earned trust that money cannot buy and competitors cannot shortcut.
Perhaps most telling is the customer impact. One Rhode Island customer's review captures it simply: 'They added a filter and now my water tastes great.' Behind that one sentence is the reality of what AquaScience delivers every day. families trusting their drinking water, homeowners protecting their property investment, and a founder who has spent four decades making that possible.
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Interactive Business Profile
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What the Market
Wants to Pay
Important context: This estimate reflects what buyers can determine using only publicly available information — no conversations with you, no financials you've shared, no inside knowledge of your operation. Think of this as your floor — the worst-case baseline knowing nothing about your business from you personally. The real number is almost always higher once buyers understand your full story, your team, your customer relationships, and the value drivers only you can share.
Conservative
$0
4.0x EBITDA
Optimistic
$0
8.0x EBITDA
Calculating...
Key Valuation Drivers
- Recurring revenue from maintenance contracts, chemical programs, and water testing creates predictable cash flow that buyers value at premium multiples
- PFAS, radon, and Legionella specialization aligns with accelerating regulatory mandates. buyers will pay for capabilities they cannot easily build internally
- eCommerce platform with established SEO rankings provides a scalable national revenue channel with low incremental customer acquisition cost
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Our Process — What Happens and When
Here is exactly what happens from the day you sign the engagement letter to the day you hand over the keys. No surprises, no mystery. Every step is planned.
1
Phase 1 — Preparation & First Contact
Week 1
- ✅ Preliminary research and buyer identification already completed
- Identify and document your real profit after we add back owner perks
- Create the marketing book we build about your business
- ✅ Target buyer list already built. ready for outreach (strategic, PE, independent)
- Prepare management presentation materials
- Set up secure data room
2
Phase 2 — Active Marketing
Weeks 2-4
- Send blind teaser to qualified buyers (no company name)
- Execute NDAs with interested parties
- Share the marketing book with signed buyers
- Manage buyer Q&A process
- Collect initial offers (Indications of Interest)
- Evaluate and rank every offer
3
Phase 3 — Negotiation
Weeks 5-7
- Facilitate in-person meetings with top bidders
- Request formal Letters of Intent (LOIs)
- Negotiate price, terms, structure, and transition plan
- Select preferred buyer and sign LOI
- Coordinate with your legal counsel on deal structure
4
Phase 4 — Closing
Weeks 7-9
- Manage the due diligence process (buyer verifying your numbers)
- Coordinate with buyer's lenders and advisors
- Support purchase agreement negotiation
- Handle working capital and any earnout details
- Close the deal and facilitate ownership transfer
Expected Total Timeline: 6-9 months from engagement to close. We keep you informed every step of the way with weekly updates and a dedicated point of contact.