Local water systems across rural America tend to be community owned, but Magnolia, Texas-based Quadvest is an exception to that rule. The private utility has transformed over the years from a small family business to one of the fastest-growing water companies in the state.
Quadvest was established in 1978 by two real estate developers, initially out of necessity. “My father and grandfather needed to build a water system to serve a subdivision they were constructing,” said Simon Sequeira, chief executive officer and owner of Quadvest. “Ultimately, we decided to keep the business rather than sell, which put us in the great position we are in today.”
For its first 25 years, Quadvest remained a small operation with no more than 1,000 customers. In the early 2000s, the company embarked on an ambitious growth strategy, expanding its service territory to new developments and counties in rural areas northwest of Houston. Today Quadvest serves approximately 40,000 homes and businesses — and credits its relationship with CoBank as a key component of its success.
“Partnering with CoBank was really the turning point for us,” Sequeira said. “For over 20 years, they have helped finance a full range of projects, including new plant construction, renovations, updates, new wells and infrastructure. Our growth — and most importantly, our ability to focus on our employees and customer care — were made possible by the deep industry knowledge and capital offered by the bank.”
Quadvest’s latest endeavor is an elevated storage tank, designed to improve pressure management for homes, that will serve the Sunterra community outside of Katy, Texas — one of the fastest-growing neighborhoods in the United States.
CoBank is instrumental in all of our projects — when you’re working with a bank that understands your business, the sky is the limit.
“Our service area has a very flat terrain, so we can’t rely on natural elevation for consistent water pressure. The aboveground tank is built on a concrete pedestal and will ensure a steady water supply for our customers,” Sequeira said.
CoBank provides consistent financing for Quadvest, with over $84.9 million in commitments across 15 term loans. The utility also utilizes a $2 million line of credit for business and operational needs. Access to these loans also helped the utility finance the storage tank, which became operational in fall of 2025 and marked a major milestone for Quadvest as its first elevated tank.
“CoBank is instrumental in all of our projects — when you’re working with a bank that understands your business, the sky is the limit,” Sequeira said. “Because they understand your challenges, they understand how you receive revenue and all the dynamics that come with the industry. It was very hard to grow our business when we were working with local commercial banks — our partnership with CoBank changed everything for Quadvest, and we’re excited to see what the future holds with them by our side.”