CONCORD, N.C.–(BUSINESS WIRE)–May 17, 2018–
Warren Equity Partners, a lower middle market private equity fund, is pleased to announce the acquisition of Superior Industrial Maintenance Company (“SIMCO” or the “Company”). SIMCO, based in Concord, NC, provides corrosion protection services for mission critical assets in the infrastructure sector. SIMCO will serve as a platform investment in Warren Equity’s strategy to build a leading industrial coating services company. Financial terms of the transaction were not disclosed.
“We are excited to partner with Hans Peterson and the rest of the SIMCO team,” said Scott Bruckmann, Partner at Warren Equity. “Under Mr. Peterson’s leadership, SIMCO has expanded its service lines, built a reputation for quality and reliability, delivered an excellent safety record, and achieved significant growth. We are looking forward to working with the full team to further expand SIMCO’s offerings and geographic reach.”
SIMCO provides specialty industrial services to critical assets in power plants, chemical plants, commercial aviation facilities, military bases, food and beverage processing facilities, and water treatment facilities. SIMCO’s primary asset protection services include industrial coatings and lining applications, inspection and maintenance services, and lead and asbestos abatement. The Company also offers proprietary bacteria and chemical resistant coatings for the food and beverage market. The Company’s broad suite of services allows customers to fully migrate non-core maintenance, repair, and overhaul services into SIMCO’s outsourced maintenance programs.
“We chose to partner with Warren Equity due to their experience with infrastructure services companies and the strong fit with our culture,” said Hans Peterson, CEO of SIMCO. “SIMCO has generated rapid growth over the past several years, and we are excited to bring in a partner to help us continue to build our platform.”
The transaction is Warren Equity Partners’ eleventh acquisition since its formation in mid-2015.
About Warren Equity Partners
Warren Equity Partners is a private equity firm that invests in small and middle market operating companies primarily in North America. The firm invests in established companies where additional capital and operating resources can accelerate growth, targeting companies in the industrial, infrastructure, and business services sectors. Warren Equity invests in the form of buyouts, growth equity, and recapitalizations. For more information, please visit www.warrenequity.com.
About Superior Industrial Maintenance Company
Superior Industrial Maintenance Company, Inc. established in 1992 with facilities in Concord, NC and Archdale, NC, is an industrial services provider for a variety of end markets including power generation, chemical, military and aviation fuel, food and beverage, and water. The Company’s service offering includes industrial coating and linings, inspection and maintenance services, and lead/asbestos abatement. As a testament to the Company’s commitment to quality, SIMCO has over 15 NACE inspectors & 2 SSPC Concrete Coatings Inspectors on staff. SIMCO is one of the few nationwide coatings service providers that hold the following certifications: SSPC-QP1, SSPC-QP2, SSPC-QP3, SSPC-QP8, & SSPC-QS1. For more information, please visit http://gosuperior.net.
Superior Industrial Maintenance Company
Jim Gregg, 704-743-2054