Carr’s Hill Partners has acquired Corpus, Christi, Texas-based AXIS Industrial Services LLC, a provider of diversified specialty services including scaffolding, insulation, fireproofing, abatement, and other services to the U.S. processing and manufacturing sectors. No financial terms were disclosed.
NEW ORLEANS, Aug. 12, 2020 /PRNewswire/ — Funds advised by Carr’s Hill Capital Partners Management, LP (“Carr’s Hill Partners”), a New Orleans-based private equity firm focused on the industrial technology & services sectors, are pleased to announce the acquisition of AXIS Industrial Services, LLC (“AXIS”), a multi-craft industrial contractor providing diversified specialty services including scaffolding, insulation, fireproofing, abatement, and other services to the U.S. processing and manufacturing sectors.
Based in Corpus Christi, Texas, AXIS has become a trusted provider of critical specialty services with an industry-leading safety record (zero lost time incidents since its founding), a tireless focus on dependability, and a broad offering of specialty soft-craft services. AXIS currently supports master service agreements with over 20 facility operators, including numerous international petrochemical, chemical, refinery, midstream, and other clients throughout the U.S. Gulf Coast region. The management team at AXIS will retain an equity interest and continue leading the business, with Founder & CEO JT Maddox IV at the helm.
“Carr’s Hill is drawn to founder-led businesses, like AXIS, with an emphasis on customer service and a clear vision for growth. With its significant presence in the U.S. Gulf Coast region, strong reputation, and blue-chip customer base, we believe AXIS is a great platform asset,” said H. David de Laureal, Managing Partner of Carr’s Hill Partners. “We look forward to working alongside the AXIS team to continue to drive growth and expand into new markets and soft-craft capabilities.”
Supported by this accelerated investment in its team and capabilities, AXIS looks to deepen its existing customer relationships while expanding into new service offerings and geographical markets, both organically and through acquisition.
JT Maddox IV, Founder & CEO of AXIS, commented, “Over its history, AXIS has developed great relationships with our customers based on our reliable team, successful project execution, and strong safety performance. We have ambitions to expand rapidly into new markets and service offerings, and the Carr’s Hill team shares a similar vision. We are excited about AXIS’ growth prospects and believe our customers and employees will benefit immensely from Carr’s Hill’s support as we embark on our next growth phase.”
About AXIS Industrial Services
AXIS is a multi-craft industrial contractor offering scaffolding, insulation, fireproofing, painting, abatement, and other services to the U.S. processing and manufacturing industries. Headquartered in Corpus Christi, Texas, AXIS currently operates at blue-chip customer sites throughout the U.S. Gulf Coast region, including petrochemical, chemical, midstream, and other large process facilities. For more information, visit: www.axisindsvcs.com
About Carr’s Hill Partners
Carr’s Hill Partners is a lower middle-market private equity firm providing capital and expertise to industrial technology & services companies. Based in New Orleans, Louisiana, Carr’s Hill Partners invests throughout North America with a focus in the U.S. Gulf Coast region. We aim to provide much more than capital, bringing operational resources to help management partners develop into market leaders and create a foundation for exceptional growth. For more information, visit: www.carrshillpartners.com