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Northern Technologies: Company Expands Team with Acquisition of AQUA-Plus
Fargo, N.D., and St. Paul, Minn. — April 28, 2016 — Northern Technologies announced the acquisition of AQUA-Plus, Inc., which specializes in contract groundwater and environmental services and serves clients throughout the Upper Midwest.
“This was absolutely a win-win situation as NTI gets an experienced group of new team members, access to an attractive set of clients, and a great business manager in Bill Canty to lead NTI’s drilling operations,” said Ryan Benson, NTI’s regional manager of Minnesota. “AQUA-Plus will incorporate its best practices into the drilling operations at NTI, providing the clients of AQUA-Plus access to a much larger range of services, while giving the owners well-earned liquidity.”
William Canty, founding partner of AQUA-Plus, said, “The synergies in our respective operations were extensive, so the integration effort will be seamless for the clients and team members of both companies.”
Canty formed Aqua Plus in 1995 after a 16-year career in the environmental services and testing industry. Serving as NTI’s drilling services manager, he will be located in NTI’s Ramsey office.
AQUA-Plus represents the first effort of NTI to expand its operations through acquisition in its 20-year history. The effort to join the two companies was actually started several years ago, but was accelerated by the recent investment by Arch Equity Partners (AEP) in NTI.
“Bill Canty and I have known each other and worked together on various projects for many years,” said NTI President Marc Shannon. “We talked about joining forces some time ago and both knew this made great sense, and with AEP on board to help with the details and support this effort, we could finally get this done.”