Success Story: StormTrap

Overview

Why did we buy StormTrap?

PSP ACQUIRED STORMTRAP IN EARLY 2022
BASED ON SEVERAL KEY FACTORS:

StormTrap is a market leader in underground stormwater management providing customizable, high-performance detention/retention, and water quality solutions. StormTrap has demonstrated the ability to quickly scale through its best-in-class sales, design, and engineering teams.
StormTrap plays a critical role in the growing stormwater pollution prevention category. StormTrap’s products will continue to reduce the burden on municipal sewer systems and help protect waterways from excess pollutants as communities implement proactive sustainability strategies.
StormTrap has a superb management team with a clear vision for transforming the business into a comprehensive stormwater solutions provider. PSP’s flexible capital, desire to invest in R&D, and comfort in driving M&A are a logical complement to management as StormTrap further builds its platform.

How does this tie into PSP's overall
investment strategy?

PSP’s investment in StormTrap is a marriage of our subsector thesis strategy and organizational capabilities. PSP has a dedicated focus to building products and infrastructure businesses serving end markets experiencing secular growth. StormTrap benefits from durable macroeconomic trends including investment in public infrastructure, developers optimizing for total cost of ownership, rising land costs particularly in urban infill locations and increasing focus on sustainability. Our sector strategy is bolstered by our organization’s deep experience and valued relationship in the real estate industry, including those of Pritzker Realty Group (our dedicated in-house real estate group). The blend of macroeconomic drivers and deep industry knowledge enables PSP to magnify StormTrap’s growth initiatives and bolster operational strategy.

What is unique about the StormTrap partnership
with PSP and what makes it a success story?

PSP’s investment in StormTrap is built on a foundation of trust and a shared vision with the management team. This alignment began prior to the transaction process and allowed for the immediate implementation of near-term objectives including improvements to data utilization, financial planning, and IT management. Simultaneously, PSP and StormTrap have made critical growth investments building organizational and production capacity, expanding the product set, furthering R&D, creating an M&A strategy, and activating PSP’s network on behalf of the Company. We are excited to deploy flexible capital and strategic support behind this superlative leadership group.

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“We chose PSP as our partner based on their commitment to growth, their value on relationships, customer focus, and long-term investment into not just our business but our people. We have been impressed not only with how they have shown their commitment to those areas, but also in the way they went about learning our business and our culture. The vast resources PSP brings to our business and their consistent approach to driving value will enable StormTrap to fully realize its potential.”

Nate Olds / CEO, StormTrap

PSP Partners, LLC

Success Story: StormTrap

Overview

Date of investment:

Sector focus: