Gary Cappeline will serve as interim CEO & Mark Roos will serve as interim CFO until replacements for each position are found
The Evoqua Water Technologies board of directors has named AEA Investors LP Operating Partner Gary Cappeline interim CEO and Mark Roos, former CFO of Unifrax LLC, previously an AEA portfolio company, interim CFO.
Former Evoqua CEO Dr. Lukas Loeffler has left the company and as determined in December 2013, CFO Mirko Schueppel will leave March 31. The board will begin an immediate search for their replacements.
AEA, a private equity partner to middle market companies with more than 45 years of investing experience, acquired Siemens Water Technologies on Jan. 15, 2014 and renamed the company Evoqua Water Technologies.
“The board and AEA are committed to maximizing the industry-leading talent, expertise and resources of Evoqua. To realize the company’s full future growth potential in its next chapter, the board agreed that moving forward new leadership would be helpful to the organization,” said Evoqua Board Chairman Martin Lamb.
“The board wishes to recognize the many contributions that Dr. Loeffler made in integrating the Water Technologies business and preparing it for carve-out and divestiture. We thank him and wish him continued success,” Lamb said.
Interim CEO Cappeline, formerly president and COO of Ashland Inc., is a chemical engineer and has extensive water and industry vertical experience. He joined AEA in 2007 and has been involved with Evoqua since June 2013 as AEA’s due diligence co-lead.
Interim CFO Roos previously was CFO of Unifrax, an industrial technology company carved out from British Petroleum in 1996.