Gryphon Investors has acquired a stake in water treat Gryphon Investors has acquired a stake in water treatment company Vessco Holdings from O2 Investment Partners. Vessco offers flow control, pumps and automation equipment and services to water and wastewater treatment utilities. “Water and wastewater treatment is a critical part of modern human life, and the industry will continue to experience attractive growth tailwinds from population growth, increasing regulation and the need to replace aging infrastructure," says Gryphon operating partner Wes Lucas. Raymond James and Kirkland & Ellis advised Gryphon. William Blair and Honigman LLP advised 02.