Charlotte, NC (January 2025) – Bundy Group, an industry-focused investment bank, is pleased to announce that it has successfully advised CITI, INC., a leading automation solutions and systems integration organization, in a sale to Gryphon Investors-backed Vessco Water, a leading distribution and services platform providing process equipment, flow control, pump and pump repair, industrial processes, and automation & controls across the fragmented water and wastewater treatment equipment and services industry. The transaction, which closed in December 2024, underscores Bundy Group’s continued advisory work and closed transaction experience in the automation and technology-enabled services industries, along with its delivery of quality advice and a competitive edge that drives value for clients.
Founded in 1995 and headquartered in Charlotte, NC, CITI has become a leading systems integrator serving commercial and government entities across the Eastern United States within the water and wastewater industries. Majority owned by founder Marco Varela and partially owned through an employee stock ownership plan (ESOP), the company is a high-growth organization delivering control systems, network infrastructure, and maintenance services to its clients.
Clint Bundy, Managing Director with Bundy Group, stated, “We are honored to have represented the CITI shareholders in the sale of the company. It was a privilege to contribute to such a strong outcome that benefits Marco, the ESOP, and the company as a whole.” Jordan Frickle, Vice President, added, “This Bundy Group-managed competitive process generated substantial interest, and we are excited for the company as it transitions to its next phase with Vessco Water, a recognized leader in the infrastructure automation sector.”
“I hired the Bundy Group team because of its extensive experience in the automation and technology services sectors, as well as the firm’s reputation for delivering ‘high touch’ service to its clients,” Marco said. He further added, “I was incredibly happy with the team’s representation of our work, especially their ability to navigate the complexities of an ESOP-owned firm, and I was thrilled with the premium results Bundy Group delivered.”
The Bundy Group transaction team included Jordan Frickle, Stewart Carlin, Lorenc Biqiku and Clint Bundy.
This transaction highlights Bundy Group’s continued success and significant experience in the automation and technology-enabled services sectors. For more information about Bundy Group’s industry expertise and recent transactions, visit bundygroup.com.
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About Bundy Group
Established in 1989, Bundy Group is an industry-focused investment bank that specializes in representing business owners and management teams in business sales, acquisitions, and capital raises. The team of highly experienced investment bankers leverages extensive industry knowledge and skill to provide hands-on guidance to clients through every phase of the business transaction. Bundy Group has been a trusted partner in more than 250 closed deals over the past 35 years, providing high quality options, actionable insights, and delivery of optimal strategic fit at a premium value for our clients.
Bundy Group Securities, LLC, is a registered broker-dealer and member of FINRA and SIPC. More information on the background of Bundy Group Securities, LLC is available at FINRA's BrokerCheck.
