Sustainable Investing at Goldman Sachs Alternatives Completes Acquisition of Atlas-SSI

Rhea-AI Summary

Goldman Sachs Alternatives' Sustainable Investing team has acquired Atlas-SSI Holdings, a North American water management equipment supplier, from XPV Water Partners. Atlas-SSI specializes in designing, manufacturing, and servicing customized screens, gates, and barriers for water facility protection.

The acquisition aims to expand Atlas-SSI's market presence amid growing water sector demand, particularly in infrastructure upgrades and industrial growth. The EPA estimates over $744 billion in required investments over two decades for water infrastructure upgrades in North America.

Atlas-SSI's solutions serve industrial, utility, municipal, and commercial customers, focusing on removing plastics and pollution while protecting aquatic life. The company's re-manufacturing segment reduces carbon emissions by decreasing virgin material usage.

Positive

• Acquisition provides access to Goldman Sachs' global network and resources for market expansion
• Strong market positioning in North America with 100% US-based manufacturing
• Operates in non-discretionary demand markets with significant growth potential
• Benefits from $744bn EPA-estimated water infrastructure investment opportunity

Negative

• Faces integration challenges with new ownership
• Operating in sector with decades of historical underinvestment
• High dependence on municipal water sector funding

MONTICELLO, Miss., April 1, 2025 /PRNewswire/ -- Atlas-SSI Holdings, LLC ("Atlas-SSI" or the "Company"), a North American supplier of water management equipment for the protection of mission-critical assets and water ecosystems, announced its acquisition by the Sustainable Investing team at Goldman Sachs Alternatives. The transaction positions Atlas-SSI, previously a portfolio company of XPV Water Partners, to expand and meet increased demand in the water sector by upgrading aged infrastructure, enabling industrial growth and providing enhanced resilience in the wake of water related stress.

Atlas-SSI designs, manufactures and services customized screens, gates and barriers that serve as the first line of defense for facilities that utilize water. The Company's offerings address non-discretionary demand across industrial, utility, municipal and commercial customers. Atlas-SSI's products remove plastics and other pollution from water while protecting aquatic life, and through their re-manufacturing segment, the Company avoids carbon emissions by decreasing the use of virgin materials and contributes to reducing material waste.

The Company intends to utilize the global network and resources of Goldman Sachs to further accelerate growth in the water sector, including expansion into new markets and broadening its offerings, while continuing to improve service to the Company's customer base.

Atlas-SSI's end markets are experiencing significant tailwinds in North America. The municipal water sector is undergoing sizeable investment following decades of underinvestment, with the EPA estimating over $744bn required over two decades to upgrade water infrastructure. Industrial manufacturing is poised to grow amid onshoring to manage supply and national security risks. Power demand from data centers and electrification is expected to expand buildout of power generation facilities, which often require significant access to water systems. These trends will put further pressure on water systems and demand for Atlas-SSI solutions as an essential component in the functioning of the overall system.

Paul Lewis, CEO of Atlas-SSI stated "We are thrilled to partner with the team at Goldman Sachs Alternatives as we enter our next phase of growth. This partnership enables Atlas-SSI to accelerate our mission of delivering innovative water management solutions that protect critical infrastructure and ecosystems. With Goldman Sachs' support, we'll expand our capabilities, enhance our technology leadership and continue to meet the critical and growing needs of our customers."

"Atlas-SSI provides essential equipment which serves as the first line of defense for mission-critical assets, with end markets having non-discretionary demand for high quality water," said Jeff Possick of Goldman Sachs Alternatives. "The Company has built significant customer trust as one of the only end-to-end solutions providers in North America providing highly reliable equipment with 100% of manufacturing in the U.S. We believe Atlas-SSI is well positioned to capitalize on macro tailwinds by upgrading and servicing current systems to be more resilient and supporting new facility buildout. We're proud to leverage our deep experience in the water sector to support Atlas-SSI as they expand their market leadership."

About Atlas-SSI

Atlas-SSI, Inc. is North America's leading full-service provider of water management solutions that protect mission-critical assets and water ecosystems with a portfolio of traveling water screens, 316(b) fish-friendly screens, trash rake systems, wastewater headworks, water control barriers, gates, debris handling equipment, grit handling solutions and stormwater screens. Certified field service and dive teams offer nationwide service capabilities to support turnkey installations, on-site service, inspections, and preventative maintenance. To learn more, visit atlas-ssi.com.

About Sustainable Investing at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

Sustainable Investing at Goldman Sachs Alternatives seeks investments in thematic climate transition and inclusive growth opportunities by backing companies that have an impact in these two areas. The leadership and broader team bring decades of combined experience, broad investment knowledge across the sustainability landscape and a proprietary corporate network of sustainability leaders from global corporations – all supported by the broader resources of Goldman Sachs.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of December 31, 2024.

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About XPV Water Partners

XPV Water Partners is a team of experienced operators and investors who are committed to making a difference in water. The firm manages investment capital from some of the world's top institutional investors, and partners with emerging water-related companies to help them rapidly expand and achieve their strategic goals. XPV aims to generate strong, risk-adjusted returns for its investors by leveraging its trusted ecosystem, deep industry knowledge, and its water centric company scaling platform. XPV is committed to building partnerships that contribute to growing people, sustainable businesses, prosperous communities, and a water secure future. To learn more, visit: xpvwaterpartners.com.

Media Contacts

For Goldman Sachs Alternatives
Victoria Zarella
victoria.zarella@gs.com

For Atlas-SSI
Henry Watson
info@atlas-ssi.com

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SOURCE Atlas-SSI, Inc

FAQ

What is the value of the water infrastructure investment opportunity that Atlas-SSI could benefit from?

The EPA estimates over $744 billion in required investments over two decades to upgrade water infrastructure in North America.

How will Goldman Sachs (GS) support Atlas-SSI's growth after the acquisition?

GS will provide access to its global network and resources to accelerate growth, expand into new markets, broaden offerings, and improve customer service.

What are Atlas-SSI's main product offerings following the GS acquisition?

Atlas-SSI designs, manufactures, and services customized screens, gates, and barriers that protect water facilities and remove pollution while protecting aquatic life.

Which key market sectors does Atlas-SSI serve under GS ownership?

Atlas-SSI serves industrial, utility, municipal, and commercial customers with non-discretionary demand for water management equipment.

How does Atlas-SSI contribute to sustainability under Goldman Sachs ownership?

The company removes plastics and pollution from water, protects aquatic life, and reduces carbon emissions through its re-manufacturing segment that decreases virgin material usage.