Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, is pleased to announce the sale of First Water Inc. to Fenix Holdco. The acquisition closed July 31, 2026.

Located in Suwanee, Georgia, First Water Inc. is a provider of emergency water purification and water security solutions designed to support critical infrastructure and emergency management operations. The company offers a comprehensive range of water purification systems, water storage and containment products, filling and supply stations, and other supporting technologies. Its solutions serve a diverse range of customers, including hospitals, military organizations, government agencies, and public health and emergency response organizations. First Water’s products are designed to help organizations maintain access to safe water and continue operations during emergencies, disruptions, and other water-related contingencies.

Headquartered in Park City, Utah, Fenix Holdco is an investment and operating company that acquires and manages essential businesses with a focus on generating consistent cash flow and long-term value. The company targets profitable businesses in recession-resistant sectors, including water treatment, industrial components manufacturing, and agricultural systems. Through active operational management and strategic growth initiatives, Fenix Holdco works to strengthen its portfolio companies and create sustainable growth.

Generational Group Executive Managing Director, M&A, Eastern Region – David Fergusson, and his team led by Managing Director, M&A, Alex Mironov and Senior Vice President, M&A, Emil Nirkis successfully closed the deal.

Alex Mironov, Generational Group Managing Director, M&A, stated, “We are excited to see new ownership continue to grow the footprint of First Water and their lifesaving products. The company is in great hands!”

Ryan Binkley, CEO of Generational Group, added, “We were proud to have facilitated in bringing these two organizations together. Both sides brought valuable strengths to the table, and we believe this partnership will open the door to exciting opportunities moving forward.”

About Generational Group

Generational Group, headquartered in Dallas, TX, is a leading, award winning full-service M&A advisory firm. Generational has over 350 professionals across 17 offices in North America. The firm empowers business owners to unlock the full value of their companies through a comprehensive suite of services—including M&A advisory, exit planning education, business valuation, strategic growth advisory, wealth advisory, and digital solutions.

Celebrating its 21st year, Generational has successfully closed over 1,800 transactions and has ranked #1 or #2 in all LSEG league tables for deals valued between $25 million and $1 billion in 2024 and 2025.

The firm was named 2025 USA Investment Banking Firm of the Year by the Global M&A Network and recognized as Investment Banking Firm of the Year by The M&A Advisor in 2024 and 2025.

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