ArcLight Capital Partners has sold its portfolio company RepconStrickland to strategic buyer EMCOR Group (NYSE:EME) in an all cash transaction valued at approximately $455 million. ArcLight first invested in RepconStrickland in 2006.
RepconStrickland is a specialty industrial services firm that primarily engages in the upgrade, repair, and maintenance of operations in the oil refinery industry, including cracking and coker units. The company is comprised of five specialized divisions including Repcon; AltairStrickland Holdings; Turnaround Welding Services; Diamond Refractory Services; and Tiger Tower Services. RepconStrickland is based in La Porte, TX (www.repconstrickland.com).
Harris Williams & Co. (www.harriswilliams.com) was the exclusive advisor to RepconStrickland. The transaction was led by Drew Spitzer, Tiff Armstrong, Matt White, Chris Burnham and Oliver Brooks from the firm’s Energy & Power (E&P) Group.
“Over the past 35 years, RepconStrickland has grown to become the preeminent provider of highly specialized, mission-critical turnaround, maintenance and other specialty services to the nation’s leading refiners, petrochemical plants and other processors,” said Drew Spitzer, a managing director at Harris Williams & Co. “We are proud to have represented RepconStrickland and ArcLight in this transaction.”
ArcLight is an energy-focused private equity investment firm and has invested more than $10 billion since its founding in 2001. ArcLight is headquartered in Boston with offices in New York and Luxembourg (www.arclightcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-30-13