Warren Equity Partners has acquired Superior Industrial Maintenance Company (SIMCO), a provider of industrial services.
SIMCO provides application, inspection and maintenance services for industrial coating and linings; and lead and asbestos abatement. SIMCO’s customers include power plants, chemical plants, commercial aviation facilities, military bases, food and beverage processing facilities, and water treatment facilities. The company, led by CEO and Hans Peterson, was founded in 1992 and has facilities in Concord, NC (headquarters) and Archdale, NC (www.gosuperior.net).
Mr. Peterson was the majority owner of SIMCO and he and other members of the company’s senior management team have rolled over a portion of their equity as part of this transaction. “We chose to partner with Warren Equity due to their experience with infrastructure services companies and the strong fit with our culture,” said Mr. Peterson. “SIMCO has generated rapid growth over the past several years, and we are excited to bring in a partner to help us continue to build our platform.”
Warren Equity invests from $5 million to $40 million in North American-based companies with $3 million to $15 million of EBITDA. Sectors of interest include industrial and business services with a specific focus on infrastructure maintenance and repair. The firm is based in Jacksonville Beach, FL (www.warrenequity.com).
“We are excited to partner with Hans Peterson and the rest of the SIMCO team,” said Scott Bruckmann, Partner at Warren Equity. “Under Mr. Peterson’s leadership, SIMCO has expanded its service lines, built a reputation for quality and reliability, delivered an excellent safety record, and achieved significant growth. We are looking forward to working with the full team to further expand SIMCO’s offerings and geographic reach.”
The buy of SIMCO is Warren Equity’s eleventh acquisition since its formation in mid-2015.
© 2018 Private Equity Professional | May 18, 2018
