StormTrap Announces Acquisition of Faircloth Skimmer, Expanding Stormwater Management Solutions Portfolio
Founded in 2000, Faircloth Skimmer has built a strong reputation for its innovative floating skimmer technology, which helps improve water quality by removing sediment-laden water from construction sites and stormwater basins. The company's products are recognized for their reliability, regulatory compliance, and ease of installation, and have been used in thousands of construction projects across the United States.
'We are thrilled to welcome Faircloth Skimmer to the StormTrap family,' said Nate Olds, CEO of StormTrap. 'Their cutting-edge products are a natural complement to our existing solutions, and this acquisition allows us to offer a more complete suite of stormwater management tools to our customers. Together, we will continue to lead the industry in innovation, quality, and environmental stewardship in every part of the country.'
The acquisition aligns with StormTrap's long-term growth strategy and strengthens its ability to deliver flexible, cost-effective solutions that span a broader range of the project lifecycle and meet the evolving needs of engineers, contractors, and municipalities in managing and treating stormwater. Faircloth Skimmer will maintain its brand in the marketplace in partnership with StormTrap, together upholding the high standards of service and product excellence that customers have long associated with both companies.
'We are excited to join forces with StormTrap,' said Michael Brewer, President & CEO of Faircloth Skimmer. 'This partnership will allow us to scale our impact, reach new markets, and continue developing products that support sustainable construction and water management practices.'
Michael Brewer and the Faircloth team will continue in their current roles as Faircloth becomes a subsidiary and affiliate of StormTrap. StormTrap is a flagship company in the PSP Capital Partners portfolio.
About StormTrap
StormTrap is a leading provider of advanced stormwater management solutions across North America. Committed to protecting waterways and promoting sustainable infrastructure, StormTrap delivers engineered systems for detention, retention, infiltration, treatment, and water harvesting. Its proven, customizable solutions help civil engineers, developers, and municipalities meet stringent regulatory requirements while optimizing site design and reducing total project costs. StormTrap's product portfolio includes SingleTrap ®, DoubleTrap ®, ShallowTrap ®, StormSettler ®, SiteSaver ®, TrashTrap ®, and PumpGuard ®. To learn more, visit www.stormtrap.com.
About Faircloth Skimmer
Faircloth Skimmer is a leading manufacturer of surface drain dewatering devices used in sediment basins and stormwater ponds. Its patented floating skimmer technology is widely adopted for its effectiveness in reducing sediment discharge and improving water quality on construction sites. To learn more about Faircloth Skimmer, please visit www.fairclothskimmer.com.
About PSP Partners and PSP Capital
PSP Partners is a Chicago-based private investment firm founded by its Chairman Penny Pritzker, an entrepreneur, civic leader, and philanthropist, and former U.S. Secretary of Commerce. The firm is comprised of a highly experienced team of investment professionals and business builders focused on partnering with entrepreneurs, business owners, and management teams to build market-leading businesses and develop valuable assets. With investment strategies focused on established businesses (PSP Capital), emerging/growth companies (PSP Growth) and real assets (Pritzker Realty Group), PSP Partners invests across stages and asset classes with a primary emphasis on business & technology services, advanced industrials and real estate that are well-aligned with its expertise and experience. For more information, visit: www.psppartners.com.
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08-07-2025
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StormTrap Announces Acquisition of Faircloth Skimmer, Expanding Stormwater Management Solutions Portfolio
ROMEOVILLE, Ill., July 08, 2025--(BUSINESS WIRE)--StormTrap, a leading provider of stormwater management systems, today announced the acquisition of Faircloth Skimmer, the leading manufacturer of surface drain dewatering devices used in sediment basins and stormwater ponds. This strategic acquisition enhances StormTrap's product offerings and reinforces its commitment to providing comprehensive, sustainable solutions for stormwater management. Founded in 2000, Faircloth Skimmer has built a strong reputation for its innovative floating skimmer technology, which helps improve water quality by removing sediment-laden water from construction sites and stormwater basins. The company's products are recognized for their reliability, regulatory compliance, and ease of installation, and have been used in thousands of construction projects across the United States. "We are thrilled to welcome Faircloth Skimmer to the StormTrap family," said Nate Olds, CEO of StormTrap. "Their cutting-edge products are a natural complement to our existing solutions, and this acquisition allows us to offer a more complete suite of stormwater management tools to our customers. Together, we will continue to lead the industry in innovation, quality, and environmental stewardship in every part of the country." The acquisition aligns with StormTrap's long-term growth strategy and strengthens its ability to deliver flexible, cost-effective solutions that span a broader range of the project lifecycle and meet the evolving needs of engineers, contractors, and municipalities in managing and treating stormwater. Faircloth Skimmer will maintain its brand in the marketplace in partnership with StormTrap, together upholding the high standards of service and product excellence that customers have long associated with both companies. "We are excited to join forces with StormTrap," said Michael Brewer, President & CEO of Faircloth Skimmer. "This partnership will allow us to scale our impact, reach new markets, and continue developing products that support sustainable construction and water management practices." Michael Brewer and the Faircloth team will continue in their current roles as Faircloth becomes a subsidiary and affiliate of StormTrap. StormTrap is a flagship company in the PSP Capital Partners portfolio. About StormTrap StormTrap is a leading provider of advanced stormwater management solutions across North America. Committed to protecting waterways and promoting sustainable infrastructure, StormTrap delivers engineered systems for detention, retention, infiltration, treatment, and water harvesting. Its proven, customizable solutions help civil engineers, developers, and municipalities meet stringent regulatory requirements while optimizing site design and reducing total project costs. StormTrap's product portfolio includes SingleTrap®, DoubleTrap®, ShallowTrap®, StormSettler®, SiteSaver®, TrashTrap®, and PumpGuard®. To learn more, visit About Faircloth Skimmer Faircloth Skimmer is a leading manufacturer of surface drain dewatering devices used in sediment basins and stormwater ponds. Its patented floating skimmer technology is widely adopted for its effectiveness in reducing sediment discharge and improving water quality on construction sites. To learn more about Faircloth Skimmer, please visit About PSP Partners and PSP Capital PSP Partners is a Chicago-based private investment firm founded by its Chairman Penny Pritzker, an entrepreneur, civic leader, and philanthropist, and former U.S. Secretary of Commerce. The firm is comprised of a highly experienced team of investment professionals and business builders focused on partnering with entrepreneurs, business owners, and management teams to build market-leading businesses and develop valuable assets. With investment strategies focused on established businesses (PSP Capital), emerging/growth companies (PSP Growth) and real assets (Pritzker Realty Group), PSP Partners invests across stages and asset classes with a primary emphasis on business & technology services, advanced industrials and real estate that are well-aligned with its expertise and experience. For more information, visit: View source version on Contacts Media Contact: Stefanie GeissDirector of MarketingStormTrapEmail: sgeiss@ Phone: (815-791-7291)
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08-07-2025
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StormTrap Announces Acquisition of Faircloth Skimmer, Expanding Stormwater Management Solutions Portfolio
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St. Pete hurricane victims fighting foreclosure after mortgage sold to new company
The Brief Hurricane victims trying to rebuild their homes are now fighting a new mortgage company that is threatening foreclosures. Mr. Cooper, a mortgage servicing company, is being accused of trying to foreclose on residents after buying their mortgages. Local real estate attorneys are urging residents to remain calm in the face of foreclosure threats. ST. PETE, Fla. - Hurricane victims trying to rebuild their homes are now fighting a new mortgage company that is threatening to take their homes away. One St. Pete family said that while they were trying to rebuild their home after Hurricane Helene, their mortgage was sold and its new owner threatened to foreclose on them. What they're saying "It's troubling mentally, it's stressing emotionally, it's deflating. As a husband and a father, it's mortifying because I have a family that depends on me," said Woody Faircloth. Woody Faircloth is fighting to keep his family's home in Riviera Bay. "They told us, 'Don't make your mortgage payments for the next four months. Work on your house. Then, when your insurance check comes in, pull the money out of there and catch your payments up,'" said Faircloth. When the forbearance period ended, however, Mr. Cooper, a mortgage servicing company, bought Faircloth's mortgage. When he attempted to resume payments, he was shocked to learn that the company had already placed his home in foreclosure proceedings because he was four months behind on his mortgage. "I told them, 'We were in a forbearance.' They told me, 'not with us, you weren't," said Faircloth. "What they're doing is threatening us with a sale date on our house if we don't pay them," Faircloth said. Local perspective Charles Gallagher, a St. Petersburg attorney specializing in real estate said situations like Faircloth's are becoming increasingly common, especially when the original forbearance agreement was verbal rather than written. "We're seeing a lot of that – just like we saw post-Covid," Gallagher said. "If you have a written forbearance agreement, the new mortgage company is obligated to honor it. If they don't, they're in violation of the amended mortgage terms." Nationstar Mortgage, the LLC behind Mr. Cooper, has faced multiple lawsuits for failing to honor the terms of mortgages transferred from other countries. All 50 state attorneys general have sued the company twice, resulting in settlements for homeowners. The Consumer Financial Protection Bureau secured a $91 million settlement after alleging the company failed to handle transferred mortgages properly. What you can do Gallagher advises homeowners not to pay companies in a panic if they receive verbal threats of foreclosure. Companies must first file a suit in court, giving homeowners the chance to respond and then attend court proceedings. "We've seen cases where lenders falsely claim a sale date has been set, just to pressure homeowners into paying quickly," said Gallagher. "That can be actionable as fraud." READ: Mayor Castor to serve on Trump's FEMA Review Council "To say that you have a sale date set and a mortgage foreclosure case, when there's no foreclosure case filed yet, that triggers the issues of collection violations and deceptive trade practices," said Gallagher. "It's been done before many, many, many times by lenders and servicers who have tried to scare a borrower into quick repayment." What's next Faircloth has filed a police report with the St. Petersburg Police Department, which confirms a detective is reviewing the case. He has also submitted a complaint to the Florida Attorney General's Office. "Dealing with the disaster was bad enough," Faircloth said. "I didn't think I'd be dealing with a disaster and have the mortgage company trying to rip our house away." The other side FOX 13 has reached out to Mr. Cooper multiple times for comment, and has not heard back. CLICK HERE:>>>Follow FOX 13 on YouTube The Source FOX 13's Genevieve Curtis collected the information in this story. WATCH FOX 13 NEWS LIVE: STAY CONNECTED WITH FOX 13 TAMPA: Download the FOX Local app for your smart TV Download FOX Local mobile app: Apple | Android Download the FOX 13 News app for breaking news alerts, latest headlines Download the SkyTower Radar app Sign up for FOX 13's daily newsletter
