American Industrial Partners’ Brock Group Acquires Aegion Energy Services Businesses
American Industrial Partners (AIP) and the Brock Group announced Nov. 2 the acquisition of Aegion Energy Services (AES), headquartered in Rancho Dominquez, California.
AES, with its premier brand names, Schultz, Brinderson and AllSafe, and a high quality 2,000 strong workforce, is a leading provider of critical services for energy infrastructure in the maintenance, turnaround, construction and safety services in markets along the West Coast, Montana and Utah.
“The combined entities create a powerful business that will have the scale, expertise and a strong balance sheet with which to serve a diverse customer portfolio,” said Randall Swift, partner at AIP.
Brock (acquired by AIP in 2017) provides soft-craft services of scaffolding, insulation, paint and asbestos abatement to industrial, oil and gas, power generation, petrochemical and nuclear markets across the United States and Canada. The business has continued to grow its footprint by adding additional market segments, including in the food and beverage, pharmaceutical, and municipality industries.
In 2018, Brock acquired Advanced Thermal Corp. to strengthen its insulating business by adding removeable blanket systems as a core product offering. The addition of the Schultz, Brinderson and AllSafe brands brings to Brock a mechanical services capacity with long-term relationships with blue chip customers. The combined Brock Group companies will provide customers a “two-expert” business model with the scale to drive reduced cost benefits across the spectrum of service offerings. It will also enable geographical and industry markets expansion.
“I believe that the Brock Group is well positioned to serve customers with additional service offerings and with a bigger footprint across the United States and Canada,” added Kip Gary, president and CEO of Brock Group.
Terms of the transaction were not disclosed. Fredrikson & Byron, P.A. acted as legal advisor to Brock. Shearman & Sterling LLP acted as legal advisors for AegionAegion, mergers and acquisitions
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