American Industrial Partners (AIP) and the Brock Group (Brock) announced the acquisition of Aegion Energy Services (AES), headquartered in Rancho Dominquez, CA.
AES, with its premier brand names, Schultz, Brinderson and AllSafe, and a high quality 2,000 strong workforce, is a leading provider of critical services for energy infrastructure in the maintenance, turnaround, construction and safety services in markets along the West Coast, Montana and Utah.
Brock (acquired by AIP in 2017) provides soft-craft services of scaffolding, insulation, paint and asbestos abatement to industrial, oil and gas, power generation, petrochemical and nuclear markets across the United States and Canada.
The business has continued to grow its footprint by adding additional market segments, including in the food & beverage, pharmaceutical, and municipality industries. In 2018, Brock acquired Advanced Thermal Corporation to strengthen its insulating business by adding removable blanket systems as a core product offering. The addition of the Schultz, Brinderson and AllSafe brands brings to Brock a mechanical services capacity with long-term relationships with blue chip customers. The combined Brock Group companies will provide customers a "two-expert" business model with the scale to drive reduced cost benefits across the spectrum of service offerings. It will also enable geographical and industry markets expansion.
Randall Swift, Partner at AIP, said, "The combined entities create a powerful business that will have the scale, expertise, and a strong balance sheet with which to serve a diverse customer portfolio." "I believe that the Brock Group is well positioned to serve customers with additional service offerings and with a bigger footprint across the United States and Canada," added Kip Gary, President and CEO of Brock Group.
Terms of the transaction were not disclosed. Fredrikson & Byron, P.A. acted as legal advisor to Brock.
