Superior Industrial Maintenance Company, which is backed by Warren Equity Partners, has acquired Lancaster, South Carolina-based Maintenance Insulation Company, a provider of corrosion protection and specialty industrial services. No financial terms were disclosed. Moore & Van Allen PLLC provided legal advice to SIMCO on the deal.
CONCORD, N.C.–(BUSINESS WIRE)–Superior Industrial Maintenance Company (“SIMCO” or the “Company”), a provider of corrosion protection services for mission critical assets in the infrastructure sector, announced its acquisition of Maintenance Insulation Company (“MICO”).
MICO, based in Lancaster, South Carolina, is a provider of corrosion protection and specialty industrial services for the chemical, pulp and paper, and industrial industries throughout the Mid-Atlantic and Southeast. MICO’s service offerings include insulation, asbestos and lead abatement, painting, blasting, and scaffolding. The Company’s COO, Robbie Reed, will remain with SIMCO post-close.
“We are eager to continue growing SIMCO’s portfolio of mission-critical industrial services to better serve our customers,” said Hans Peterson, CEO of SIMCO. “The MICO team is a strong fit with SIMCO’s culture, and we anticipate significant growth opportunities together.”
“We believe the addition of the MICO team and broad suite of services will greatly benefit the SIMCO platform,” said Scott Bruckmann, Partner at Warren Equity Partners. “This acquisition is another step towards our goal of building SIMCO into the leading specialty industrial services provider in the Southeast.”
MICO is SIMCO’s second acquisition since Warren Equity Partners acquired a majority interest in SIMCO in May 2018.
Moore & Van Allen PLLC acted as legal advisor to SIMCO.
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. Superior Industrial Maintenance Company is focused on safety, quality, and a commitment to excellence in order to build and protect its customers’ critical operating assets. For more information, please visit http://gosuperior.net.