NORDERSTEDT, Germany, Oct. 28, 2009 -- Triton Water AG ("Triton Water"), a full-service solutions provider for the design, construction, commission and service of maritime water and industrial water treatment systems, today announces the appointment of Frank Kroll from Siemens Water Europe as its new CEO, as well as the successful merger of its group companies.
Frank Kroll joins Triton Water from his position as Vice President and head of Siemens Water Europe. He has deep roots in water and industrial engineering including such credits as executing a successful turnaround as acting Managing Director of water and wastewater subsidiary of Siemens WABAG GmbH Vienna, as well as having managed the successful acquisition of water technology company USFilter by Siemens in 2004.
Triton Water's integration of its business units represents another milestone towards the development of Triton Water AG into a market-leading mid-sized company in the water and wastewater treatment sector. Effective from 6th October 2009, Osmotec Engineering GmbH, WAT GmbH, DESAL GmbH, Hansa Wassertechnik GmbH and Triton-Format AG have now been consolidated into a single entity, Triton Water AG.
These announcements follow a financing round led by cleantech investor zouk ventures in February 2009. A series of strategic objectives were developed which would transform the Company into an integrated solution provider. The successful completion of this merger, in line with new senior management to drive the change, was the first of these strategic objectives.
Frank Kroll, Triton Water CEO, commented: "I am very excited to be joining and very pleased to see my appointment coincide with the new Triton Water AG structure. The core objective of this merger was for Triton Water AG to provide broad engineering and system competence for its customers' highly complex applications. The Company will offer a unique one-stop shop for the design, construction, commission and service of industrial and maritime water treatment systems. The integration of the individual companies combines state of the art technologies and expertise, targeting cross-industry water management problems and applications and resulting in greater value for Triton Water's customers."
Professor Alexander J.B. Zehnder, renowned water expert and member of the Supervisory Board remarked: "These recent developments are very promising and will be of great strategic value to the company. As a career-long specialist in this industry, I believe the most important success factor for a growing water technology company is developing a differentiated, stand-alone platform capable of addressing a wide range of client needs. With a clear group structure and a highly experienced new CEO, I and my fellow Board members are confident the correct steps have been taken to build Triton Water into an industry leader."
Felix von Schubert, Partner at zouk ventures commented: "We have been tracking this industry since 2004. Triton Water is zouk's first and only investment in the space. We were particularly impressed by the comprehensive technology offering and the significance of this model for accessing clients in the water mid-market. We have worked closely with management to reposition the group as a single entity. The integration will bring a wealth of positive synergies through knowledge sharing, R&D, economies of scale and central operations, ultimately helping Triton Water AG become a more competitive and profitable company. Frank Kroll has the right experience to build the company from this stage and we look forward to watching Triton Water develop under his leadership."
About Triton Water
Founded in 1851, Triton Water AG is a German water technology and solutions firm based in Norderstedt/Hamburg. The company has established a strong brand in the maritime sector and has recently expanded its capabilities to industrial and land-based applications. Today, Triton serves a diversified group of customers in industrial sectors and in the maritime area as well as small communities and resorts. Hallmark projects include sustainable solutions developed for Airbus Industries, SiC Processing or SeaCloud Cruises. For more information please visit www.triton-water.com.
About zouk ventures
Founded in 1999, zouk ventures is a London based investment manager focusing on expansion stage capital in cleantech markets as well as renewable and environmental infrastructure opportunities. zouk currently manages three technology funds and invests in solar infrastructure projects through zouk Solar Opportunities Ltd. zouk has been a leading investor in the carbon market for over seven years and is a founding member of the Cleantech Venture Network in Europe. For more information please visit www.zouk.com.
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