Welcome!

Mobile IoT Authors: Yeshim Deniz, Elizabeth White, Liz McMillan, Pat Romanski, Rostyslav Demush

News Feed Item

Table Rock Capital, Ullico affiliate and Veolia Water deliver solution to strengthen California city's finances, create jobs and deliver sustainable water services

Rialto, Calif., secures more than $76 million in cash and investments and a sustainable environmental solution through international financing model

SAN FRANCISCO, Dec. 12, 2012 /PRNewswire-USNewswire/ -- In contrast to numerous cities facing financial challenges, the City of Rialto, Calif., has just finalized a 30-year agreement securing approximately $35 million in cash for economic development, $41 million in funding for future water and wastewater system improvements and associated jobs, and gaining the expertise of a professional water company to deliver system and service improvements. 

The city's new public-private concession is demonstrating a way for other cities to strengthen their financial condition while improving infrastructure services and creating jobs.  Led by partners Table Rock Capital, a Ullico affiliate, and Veolia Water, this approach - sustainable water management practices that support a community's economic growth and social stability - could serve as an important model for cities across the country struggling with substandard infrastructure systems, a lackluster economy and dwindling revenues. It's especially relevant in California, where just last week, San Bernardino became the latest city to file a bankruptcy plan.

Through a public-private concession agreement commonly utilized in Europe and Asia but less commonly used in the United States, the City of Rialto and its concessionaire Rialto Water Services (RWS) have hired Veolia Water North America (Veolia Water) to manage the city's water and wastewater systems. The City of Rialto retains full ownership of the water and wastewater systems, control and ownership of the water supply and water rights, and transparent public authority over all rate setting. Rialto Water Services is jointly owned by Table Rock Capital and a Ullico affiliate, who have jointly made a 30-year commitment to the performance, safety, customer and community satisfaction, and lasting cost and energy efficiencies of Rialto's water and wastewater systems for the city's residents.

The contract follows a public-private concession agreement signed earlier this year by the City of Rialto and Rialto Water Services that resulted in a $35 million upfront payment to Rialto at financial close; a $41 million capital improvement program to upgrade Rialto's water and wastewater facilities; and ongoing annual utility payments to the city as part of the agreement. 

Rialto is utilizing the new funding source for various long-term economic development projects including the area's Airport Redevelopment Project.  The city compared providing water services through its existing water and sewer agency, and through the selected alternative delivery model.

The new 30-year contract with Veolia Water essentially represents the life of the concession agreement and is valued at more than $300 million. Rialto Water Services will manage the Veolia Water contract and oversee the five-year, $41-million capital improvement program increasing the cost efficiency, compliance, water quality, and reliability of the city's wastewater and water systems for the life of the concession. The capital improvement program is expected to generate 445 construction jobs.  All affected city employees have accepted positions at Veolia Water.

The RWS concession refinances the city's aging water and wastewater systems without privatizing those assets, and provides the capital necessary to fix and replace water and sewer lines, develop necessary new infrastructure and seismic upgrades, improve cost efficiencies, and provide lease payments back to the city, supporting additional economic development and local jobs.

Veolia Water was a natural choice as operator, considering the company's 40-year history in California and 9 years providing environmental services and employment to Rialto residents as operator of the city's wastewater plant and collection system.

"The RWS partnership ensures that the city's water and wastewater infrastructure is upgraded and run in the most cost-efficient manner, while also laying the groundwork for new economic development," says Rialto City Administrator Mike Story. "We've worked with Veolia for years in the community and this arrangement allows for both continuity and improvement in the water resource and wastewater service, and it assures us that the total commitment to the residents of the City of Rialto is met."

Under the contract, Veolia Water will operate and manage (O&M) a sewer collection system consisting of more than 260 miles of pipeline, six lift stations, and a wastewater treatment plant currently operating at approximately eight million gallons per day. Veolia Water will also provide O&M services for the city's water system, with a total user population estimated to be approximately 50,000. The water system includes five water reservoirs, distribution, eight groundwater wells, and related pumping infrastructure.

"We've worked with Rialto for almost 10 years and have established a relationship of trust that supports the community's economic vitality," said Laurent Auguste, president and CEO, Veolia Water Americas. "Rialto is taking the right step in restoring and improving its infrastructure, and we're excited for the opportunity to help them through our new and expanded role."

The financial backing and structuring of Rialto's groundbreaking public-private concession was provided by San Francisco-based Table Rock Capital, led by Peter Luchetti. Table Rock and an affiliate of Ullico, Inc., the nation's only labor-owned insurance and investment company, provided equity financing with additional parties providing debt financing on the approximate $172 million in total financing. The financing consists of $25.8 million (15%) equity and $146.3 million (85%) debt in the form of a 30-year private placement with a 5.5% semi-annual coupon. Placement agents for the debt are Barclays, and Goldman Sachs. "With the loss of redevelopment financing, creative partnerships such as these are increasingly critical to communities who want to restore infrastructure, gain efficiencies, and get a competitive edge when it comes to creating jobs and economic growth," said Luchetti.

Based in San Francisco, Table Rock Capital is a private equity team specializing in public-private infrastructure finance. With a record rooted in both global finance and the politics of local, Table Rock's central focus and expertise lies in accelerating and improving the delivery of infrastructure to meet the objectives of its public partners, and produce overall value for money and life-cycle cost savings. Table Rock is a leading voice on P3 policy and practice, welcomes the challenge of tough problems, and is experienced in water and wastewater, energy and transmission, social infrastructure, transportation and telecom. 150 California Street, Suite 600, San Francisco, CA 94111

SOURCE Table Rock Capital

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
Here are the Top 20 Twitter Influencers of the month as determined by the Kcore algorithm, in a range of current topics of interest from #IoT to #DeepLearning. To run a real-time search of a given term in our website and see the current top influencers, click on the topic name. Among the top 20 IoT influencers, ThingsEXPO ranked #14 and CloudEXPO ranked #17.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo at the Javits Center in New York City, NY.
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...