Canadian water-focused growth equity firm XPV Water Partners has invested in Mobiltex Data Ltd, a Calgary-based engineer, designer and maker of industrial mobile data systems.
The investment’s value was not disclosed.
Founded in 1985 by Jerry Chilibecki and Dale Poloway, Mobiltex’s internet-of-things products and services help monitor corrosion protection in pipelines and other distribution and storage infrastructure assets.
XPV Partner Khalil Maalouf said his firm’s investment will help the company scale up its geographic presence and expand its offering.
Based in Toronto, XPV oversees more than $400 million in committed institutional capital.
PRESS RELEASE
XPV Water Partners expands its portfolio of companies worldwide with an investment in Mobiltex Data Ltd
CALGARY, CANADA – August 16, 2018 – XPV Water Partners, a growth equity investor focused on making investments in companies related to the treatment and management of the world’s water resources, announced today that is has made a significant investment in Mobiltex Data Ltd, an internationally recognized leader in providing IoT products and services to monitor corrosion protection in pipelines and other critical distribution and storage infrastructure assets. Mobiltex was founded and has been led by Jerry Chilibecki and Dale Poloway of Calgary Alberta, Canada, since 1985.
Mobiltex is a leading provider of IoT monitoring devices and provides data management services that gives insight for their customers into the condition and integrity of their fluid transportation and storage assets. Utilizing both satellite and cellular communication systems, Mobiltex makes data available on a continuous basis for asset management, regulatory compliance and to ensure the safe operation of critical assets. Resource industries such as oil and gas and utilities are increasingly reliant on connectivity in order to compete and remain profitable in today’s hyper-connected, data-driven, global marketplace.
“I am proud of the success and industry respect that our corTalk® brand has achieved. This partnership will enable Mobiltex to significantly increase our presence and support in the cathodic protection remote monitoring market” says Jerry Chilibecki. “The partnership with XPV Water Partners will enhance our ability to deliver value to our customers through technology and services that is adaptive to the needs of the corrosion industry” says Dale Poloway.
“We are pleased to partner with this fast growing, innovative and entrepreneurial Company. Our partnership will focus on helping the Company scale up its geographic presence and expand its offering” stated Khalil Maalouf, Partner at XPV Water Partners. “The investment was the result of an extensive search for a leading platform company in the corrosion space” added Bruce Lounsbury, Entrepreneur in Residence at XPV.
About XPV Water Partners
XPV Water Partners is comprised of experienced water entrepreneurs, operators, and investment professionals dedicated to making a difference in water. XPV partners with, invests in, and actively supports water-focused growth companies so they can grow and deliver value for all stakeholders. XPV manages over $400 million in investment capital from some of the top institutional investors in North America, Europe, the Middle East, and Asia. The XPV family of portfolio companies is making a difference in water both by driving more efficient management of the world’s most critical resource and by creating significant shareholder value that can help move the industry forward. Visit www.xpvwaterpartners.com to learn more.
About Mobiltex
Mobiltex provides hardware and services to monitor the operation and effectiveness of cathodic protection systems for pipelines and other buried infrastructure. Cathodic protection systems prevent or mitigate external corrosion of buried equipment, substantially reducing operating costs. The company also hosts servers and manages the data from remote communication with each of their client’s monitoring systems on a fee for service basis, providing valuable information to their clients for asset management and regulatory reporting requirements. Visit http://www.mobiltex.com/ to learn more.
For more information please contact:
XPV Water Partners
Phone: 1-416-864-0475 ex 306
Contact: Esther Doss – Director of Communications: Email: esther@xpvwaterpartners.com
XPV WATER PARTNERS
40 University Avenue, Suite 801
Toronto, Canada, M5J 1T1
1-416-864-0475
www.xpvwaterpartners.com
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