Canadian private equity firm Quantum Capital has acquired Apache Industrial Services Inc, a Houston, Texas provider of multi-craft industrial services, including scaffolding, coatings and linings, refractory, fireproofing and insulation. No financial terms were disclosed. As part of the deal, Apache has been combined with Skyway Canada Ltd, a Toronto scaffolding and shoring solutions company backed by Quantum. The merged business will have revenue of US$500 million, Apache said. Quantum, which invests on behalf of Canadian-Australian businessman Jack Cowin, acquired Skyway in 2007 for $84 million.
Apache Industrial Services Announces Completion of Transaction with Quantum Capital and Merger with Skyway Canada
New ownership structure to support Apache’s growth strategy and performance culture
February 03, 2017
HOUSTON–(BUSINESS WIRE)–Apache Industrial Services (Apache) announced new ownership today that will enable the multi-craft industrial services provider to expand its operations in North America. The transaction included the sale of Apache to Quantum Capital (Quantum) and a simultaneous merger with Skyway Canada (Skyway), a portfolio company of Quantum. Apache’s leadership team will continue to lead and grow the newly formed organization, which will have circa $500 million in revenues and more than 4,000 skilled craftsmen.
“Apache’s growth and success over the last several years is the direct result of thousands of hard-working men and women, who are committed to making an impact in our industry by doing things the right way,” said Apache Chief Executive Officer, Mike Knigin. “We are both pleased and excited to have our new partners at Quantum Capital and Skyway Canada on board to join Apache in our pursuit of building the kind of company that our craftsmen, customers and shareholders can all be proud of.”
Apache Industrial Services is a leading provider of multi-craft industrial services to the petrochemical, agricultural chemical, refinery, power generation, offshore energy and general industrial markets. Skyway Canada, is a leading scaffolding and shoring solutions company in Canada. The merger will enable expansion of Apache throughout the U.S. and Canada, while also complementing the service offerings of Skyway. The combined company will leverage its strong organizational culture and expertise to better serve existing and new customers across North America.
“Apache Industrial Services is one of a very short list of companies in its industry that has not only distinguished itself with a strong commitment to its craftsmen and culture, but also to building tools that make that culture scalable,” shared Andrew Blott, Partner at Quantum Capital. “Their leaders have a clear understanding of how to provide a level of service that is not currently delivered in the industry, and their commitment to performance is recognized across the United States. We have great expectations for Apache and Skyway as they continue to expand their leadership position in the marketplace.”
Knigin continued, “We are very excited to expand our offerings and commitment to excellence with the merger with Skyway Canada. Skyway shares a similar commitment to supporting its craftsmen and to the quality of its work product. We look forward to supporting Skyway’s strong work and pulling through additional services to better support their customers across Canada.”
Headquartered in Houston, Texas, Apache provides a comprehensive suite of services including scaffolding, coatings and linings, refractory, fireproofing and insulation to critical infrastructure. Founded in 1996, Apache focuses on performance with a sense of purpose and strategy that delivers differentiated customer solutions and a culture of employee engagement.
Skyway is headquartered in Toronto, Ontario, and has deep industry experience and expertise in the design, engineering, delivery and maintenance of their solutions. The company takes an innovative approach to developing the right solution for every project which ensures production, efficiency, cost-effectiveness and on-time completion. Skyway Canada will continue to operate as Skyway Canada, an Apache Industrial Services company.
Quantum is a Toronto headquartered private equity investment firm which invests on behalf of Jack Cowin, the founder and Executive Chairman of Competitive Foods Australia Ltd. Quantum makes control investments in emerging and middle market companies, and is industry agnostic. The firm has served as an important catalyst to its portfolio companies, helping the organizations to expand and solidify market positions, better focus their businesses, and increase their financial and operational flexibility.
Apache Industrial Services
Linden Emerson, 713.850.2110
Brad Deutser, 713.850.2105
Photo courtesy of Apache Industrial Services Inc