Prism Spectrum Holdings LLC, which is backed by White Oak, has acquired West Haven, Connecticut-based AAIS Corp, an environmental remediation and selective demolition contractor. No financial terms were disclosed.
PITTSBURGH (PRWEB) OCTOBER 17, 2018
PRISM Spectrum Holdings, LLC (PRISM), an environmental remediation and demolition company based in Pittsburgh, PA, announced today that it has acquired AAIS Corp (AAIS) an environmental remediation and selective demolition contractor based in West Haven, CT.
Since 1986, AAIS has become one of the most accomplished asbestos abatement and selective demolition contractors in the New England area. AAIS services customers across a variety of industries including military, public school systems, healthcare, commercial and government.
“AAIS started on our Founder, John Bannon’s porch and has since grown in to one of the most respected environmental contractors in the region,” says Jimmy Reilly, General Manager of AAIS. “We have always been a family-first organization, just as PRISM, and we are excited about joining teams with a company that we have known and respected for many years.”
The AAIS acquisition is part of a series of acquisitions by PRISM, which recently included Environmental Holdings Group, LLC (EHG) and Copper Environmental, LLC, to provide comprehensive environmental remediation and demolition services. With PRISM’s workforce of over 800, 14 locations nationwide, strong safety culture, and financial strength, it is an industry leader in demolition and environmental remediation.
“Many of the AAIS team have been part of the organization for over 20 years and are some of the best in the industry,” states PRISM CEO Shawn P Regan. “Their experience and industry expertise will help ensure that our customers’ projects are executed to the highest industry standards.”
The investor group is led by the Atlanta, Georgia-based investment firm The White Oak Group.
“Having AAIS join the PRISM team will greatly enhance PRISM’s operational knowledge and experience while positioning us in a strategic geographic region and customer group. PRISM’s focus is to continue building its leadership in environmental remediation and demolition services by increasing its capabilities, knowledge capital, and breadth of service offerings to clients across a broad set of industries,” states 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 an industry leader in environmental remediation and demolition services, providing asbestos and lead abatement, demolition, and engineering design and consultation services. PRISM’s management team consists of leaders who have decades of industry experience and have successfully completed thousands of projects throughout the United States. PRISM’s client diversity spans a broad set of industries including manufacturing, healthcare, real estate development, mining, oil and gas, chemical, utilities, education, and government agencies.
PRISM has a workforce of over 800 people and 14 locations nationwide. To learn more about PRISM, visit http://www.prismresponse.com.