Congruent Investment Partners has made an equity investment in American Industrial Services (AIS).
AIS’ services include fabrication, mechanical, repair, and refractory services to customers in the aggregates, pulp & paper, and power industries. AIS also manufactures custom commercial pneumatic and dry bulk containers and other industrial storage tanks.
AIS, the parent company of Southern Welding, Elite Refractory, and Trailers by Southern Welding, was founded in 2007 by Shane Boston and is headquartered in Waxahachie, Texas.
“I’m proud of the business that our team has built over the past 16 years, and we are excited to partner with Congruent during this unique inflection point in our history,” said Mr. Boston. “My motivation for this transaction was to bring on a partner who brought strengths where I have weaknesses so that we can better serve our customers and become a leader in the industry. Our core team will remain in place and continue to lead the company operationally, while Congruent will supplement other areas of the business, allowing us to better serve the industries in which we operate.”
“With its dominant market position in the southern United States, exceptional management team and significant opportunities for growth outside its core markets, AIS aligns well with our focus on investing alongside strategically sound, founder-led, industrial services businesses,” said Travis Baldwin, the managing member of Congruent. “We are thrilled to be partnering with Shane and the entire AIS team to strengthen the business and continue the company’s impressive upward trajectory.”
Congruent is a Dallas-based private equity firm making debt and equity investments in lower middle-market companies. Targeted industries include media, software, healthcare, business services, niche manufacturing, distribution, energy, and real estate. Founded in 2009, the firm manages long-term private funds and separate accounts, typically taking investments from institutional investors and high-net-worth individuals.
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