Prism Spectrum Holdings LLC, which is backed by White Oak, has acquired West Haven, Connecticut-based Abatement Industries Group Inc, an asbestos abatement and selective demolition contractor. No financial terms were disclosed.
PITTSBURGH (PRWEB) AUGUST 30, 2018
PRISM Spectrum Holdings, LLC (PRISM), an environmental remediation and demolition contractor based in Pittsburgh, PA, announced today that it has acquired Abatement Industries Group, Inc. http://www.aigcorp.org an asbestos abatement and selective demolition contractor based in West Haven, CT.
Founded in 1992, AIG has over 25 years of industry experience specializing in Asbestos Removal, Demolition, PCB Removal, and Lead and Mold Abatement. With approximately 65 employees on staff, including remediation, project management, and design experts, AIG is the premier remedial contractor in the State of Connecticut.
“AIG’s 25-year history, industry expertise, safety culture, and project management experience were all factors in why we wanted them to join PRISM,” states PRISM CEO Shawn P Regan. “These attributes will be adopted throughout PRISM and combine with the exceptional organizations that we have recently added.”
AIG is part of a series of acquisitions by PRISM, which recently included Environmental Holdings Group, LLC (EHG) and Copper Environmental, Inc., in order to better service the demolition and remediation industries and its industrial process decontamination customers through strategic geographical operational centers with full in-house design and construction capabilities. With Prism’s workforce of over 800, 13 locations nationwide, strong safety culture, and financial strength, they offer one of the most robust companies in the industry.
“Joining PRISM gives AIG the ability to grow its core business and expand its proven approach throughout the Northeastern United States. AIG has always prided itself on being a family-first organization, and I know that culture will continue with PRISM at the helm,” says Michael Bannon, former CEO of AIG.
The investor group is led by the Atlanta, Georgia-based private equity management firm The White Oak Group. “We are excited to have the AIG team join the PRISM Spectrum Holdings. The combination of the two companies allows us to provide a broader set of services to a key client base and increase our presence in a strategic region. PRISM’s focus is to increase the breadth of its capabilities and solutions to clients across a broad set of industries including manufacturing, healthcare, real estate development, mining, oil and gas, chemical, utilities, education and government agencies.” says Chris Melton, founder and CEO of the White Oak Group.
About The White Oak Group
White Oak is an Atlanta-based private equity management firm focused on making investments in lower middle market, IP-rich businesses primed for growth. With a successful record built on industry expertise and partnerships with exceptional management teams, White Oak invests in Aerospace and Defense, Environmental, and Information Technology companies. For more information, please visit http://www.thewhiteoakgroup.com.
PRISM is a specialty contractor that provides comprehensive environmental remediation and demolition services. PRISM’s management team consists of individuals each with over 30 years’ experience in the industry and a successful track record of completing thousands of projects throughout the United States. PRISM’s client diversity spans across a broad set of industries including manufacturing, healthcare, real estate development, mining, oil and gas, chemical, utilities, education and government agencies. They have a workforce of over 800 people and 13 locations nationwide. To learn more about PRISM, visit http://www.prismresponse.com.