Dry Fly Capital Announces Majority Recapitalization of Serpentix Conveyor Corporation
DENVER, July 2, 2025 /PRNewswire-PRWeb/ -- Dry Fly Capital LLC, a private equity firm focused on lower middle market industrial businesses, is pleased to announce the majority recapitalization of Serpentix Conveyor Corporation (www.serpentix.com), a leading manufacturer of specialized conveyor systems used in wastewater treatment and other industrial applications.
Founded in 1969 and based in Westminster, Colorado, Serpentix designs and manufactures modular, conveyors capable of three-dimensional movement—following horizontal, vertical, and helical paths to meet the material handling demands of municipal and industrial operations. With a long track record of innovation, durable design, and customer-centric service, Serpentix has become a trusted equipment partner to wastewater treatment operators and engineering firms across North America.
"We are excited to partner with Serpentix's executive team, including Rob Nusz who will remain as the President, and support its continued growth," said Mike Ogdon, Managing Partner at Dry Fly Capital. "The company's highly engineered product line, strong customer relationships, and mission-critical role in wastewater infrastructure make it a compelling platform. We look forward to helping the team scale operations and expand their reach in the years ahead."
To support the transaction, Dry Fly Capital partnered with Tamarix Capital Partners (https://tamarixcapital.com/credit/), which provided both debt and equity financing to help fund the recapitalization.
"As we looked toward the future of Serpentix, it was important to find a partner who shared our values and had the resources to help the company grow while maintaining its legacy of engineering excellence and service," said Rob Nusz, owner and President of Serpentix. "Dry Fly Capital is the right team to lead that next chapter. I'm excited about what lies ahead for our employees, customers, and partners."
Dry Fly Capital is seeking additional investments in wastewater manufacturing
The recapitalization of Serpentix marks Dry Fly Capital's first platform investment in the wastewater infrastructure sector. The firm is actively pursuing additional acquisitions of manufacturing and engineering businesses that support wastewater treatment and environmental infrastructure.
"We view wastewater as a highly attractive investment theme, with long-term tailwinds tied to environmental needs, infrastructure replacement, and operational efficiency," said Mike Ogdon, Managing Partner at Dry Fly Capital. "We are looking to partner with other high-quality manufacturers serving this essential industry."
For additional information or acquisition inquiries, please contact:
Mike Ogdon
Managing Partner, Dry Fly Capital LLC
720-315-5155
Media Contact
Mike Ogdon, Dry Fly Capital, 1 3033584539, [email protected], www.dryflycap.com
SOURCE Dry Fly Capital
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