Ridgemont Equity Partners has completed a majority equity investment in Abrasive Products & Equipment (AP&E), a specialty distributor of surface preparation, remediation, abatement, safety, environmental, and waterjet cutting products.
“AP&E is a natural fit for Ridgemont’s portfolio,” said John Shimp, Partner at Ridgemont. “There is a lot of exciting activity around the petrochemical complex in the Gulf Coast and this investment is a continued evolution of Ridgemont’s broader thesis around these attractive market dynamics. Our team is able to couple our experience in industrial distribution with our extensive knowledge of the oil & gas revolution in the US.”
AP&E sells its products under four brands – AP&E, BKW, SharpJet and Safety Pros – and serves the petrochemical infrastructure, offshore drilling, shipyard operators, oil & gas pipeline infrastructure, waterjet cutting, and general manufacturing, healthcare, and government sectors. AP&E is headquartered near Houston in Deer Park, TX and has 14 additional locations throughout the Gulf Coast and Mid-Atlantic regions (www.apeblastandpaint.com).
Ridgemont Equity Partners (formerly Banc of America Capital Investors) 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/technology. Ridgemont Equity Partners is headquartered in Charlotte, NC (www.ridgemontep.com).
“Our AP&E team is very excited about our future to partner with Ridgemont. We immediately sensed the strong cultural fit and Ridgemont’s unique combination of energy and industrial distribution experience will help us achieve the expansion and growth we strive to achieve,” said Kevin Willis, CEO of AP&E.
BlackArch Partners, an investment bank with offices in Charlotte, NC and Houston, TX (www.blackarchpartners.com), served as exclusive financial advisor to AP&E.
Debt financing partners for this transaction included Madison Capital Funding, NXT Capital, TIAA-CREF and Stellus Capital Management.
2014 PEPD • Private Equity’s Leading News Magazine • 9-8-14
