Warren-backed SIMCO acquires Carolina Coatings

Superior Industrial Maintenance Company, which is backed by Warren Equity Partners, has acquired Morrisville, North Carolina-based Carolina Coatings, a provider of corrosion protection and surface cleaning services for the chemical, pulp and paper, power and food and beverage industries. No financial terms were disclosed. Moore & Van Allen PLLC acted as legal adviser to SIMCO on the transaction.

PRESS RELEASE

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 Carolina Coatings Solutions and Industrial Services, Inc. (“Carolina Coatings” or “CCS”).

Carolina Coatings, based in Morrisville, North Carolina, is a provider of corrosion protection and surface cleaning services for the chemical, pulp and paper, power, and food and beverage industries throughout the Mid-Atlantic and Southeast. CCS’s service offerings include specialty coatings, abrasive blasting, blast tracking, pressure cleaning, water blasting, sponge blasting, crack injection, and concrete rehabilitation. The Company’s founder and President, Ken McCraw, will remain with SIMCO post-close.

“We are excited to partner with Ken McCraw and the Carolina Coatings team to better serve our customers in the Southeast region,” said Hans Peterson, CEO of SIMCO. “The Carolina Coatings team is a strong fit with SIMCO’s culture, and we anticipate significant growth opportunities together.”

“We believe the addition of the Carolina Coatings team and service capabilities will greatly benefit the SIMCO platform,” said Scott Bruckmann, Partner at Warren Equity Partners. “This acquisition is accretive to our goal of building SIMCO into a leading specialty industrial services provider throughout the Southeast.”

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.