APE Companies, a portfolio company of Ridgemont Equity Partners since September 2014, has acquired Corrosion Specialties, a distributor of corrosion control equipment and consumable products such as abrasive media.
Corrosion Specialties (CSI) serves the transportation, manufacturing, and energy industries. The company has two distribution centers – one in Duluth, GA (headquarters) and the other in Jacksonville, FL. The company is owned by Matt and Andy Steinmann (www.corrosionspec.com).
“The buy of CSI provides APE with geographic market expansion into the Southeast, end user diversification and a larger product and service offering,” said Kevin Willis, CEO of APE Companies.
APE Companies is a distributor of abrasive media, blast and paint equipment, and blast and paint parts and accessories that are sold to contractors who maintain and repair industrial facilities and equipment such as petrochemical infrastructure, offshore drilling platforms, shipyards, and oil and gas pipelines. Operating subsidiaries of APE include Abrasive Products & Equipment, BKW Environmental, Sharpjet and now Corrosion Specialties. The company is headquartered near Houston in Deer Park, TX (www.apecompanies.com).
Ridgemont Equity Partners focuses on middle market buyout and growth equity investments of $25 million to $100 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications, media and technology. Ridgemont Equity Partners is headquartered in Charlotte (www.ridgemontep.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-30-16